As part of the nation-wide crackdown on black money, Income Tax Department officials continued with their searches at various ‘suspected’ jewellers in the State, particularly in Bhubaneswar, for the third consecutive day on Sunday.
The IT sleuths have been examining CCTV footages and cash records of the jewellery shops. Sources said the raids were being conducted on the basis of intelligence inputs that black money holders could be using their money to buy gold ever since Rs500 and Rs1000 currency notes ceased to be legal tenders.
The officials are also examining whether the jewellers have transacted their business legally by keeping the buyers’ PAN Card numbers in the event of the gold purchase of Rs2.5 lakh and above.
However, the sources said the IT Department is yet to come across any such kind of irregularities. If any irregularities come to notice, it would be shared with the Enforcement Directorate (ED), the sources added.
IT officers have already raided Khimji and lalchand, two prominent jewellers in the State.