The Income Tax (IT) Department and the Enforcement Directorate (ED) on Friday conducted raids on jewellery shops and foreign currency exchange service providers, respectively. Sources said the IT sleuths conducted simultaneous raids on the lalchand Jewellers shop in Bhubaneswar and the Khimji Jewellers in Bhubaneswar, Cuttack and Rourkela.
Similarly, ED sleuths conducted raids on the foreign currency exchange service providers, who are suspected to provide foreign currencies in exchange of demonitised notes.
The raids were conducted on seven foreign currency exchange service providers in Bhubaneswar, the sources added. According to the sources, the IT Department has noticed that some jewellers have been selling gold without a proper invoices issued to the buyers. In some cases, they allegedly accepted the banned `500 and `1,000 notes from the customers and issued invoices on dates prior to the dates of transaction.