City Reports

Rajasthan: 2 diamond businessmen under IT dept scanner, raids conducted in 3 cities

Probe against them launched after demonetisation.

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February 1, 2018, 4:24 pm

customs department jaipur


Jaipur: The Income Tax department in Rajasthan launched an investigation when Rs 49 lakh in cash landed in the bank account of the driver of a diamond businessman after demonetisation. The investigation resulted in IT raids at more than 15 commercial and residential premises belonging to two prominent diamond businessmen in the state.

IT raids were carried out in Jaipur, Jodhpur and Mumbai. According to reports, the raids were carried out at the places belonging to diamond businessman Aditya Lodha and his partner Devendra Budia.

It came up during investigation that Rs 49 lakh in cash was deposited in the bank account of Narpatlal Joshi, belonging to Jodhpur, who was the driver of Aditya Lodha. The money was later withdrawn.

The income tax department served a notice on Narpatlal on February 23, asking him to explain the source of money.

On this, Narpatlal registered an FIR with Sardarpura police station. The police filed a final report in the matter and forwarded the case to income tax department for further investigation.

IT department sources said that undisclosed wealth to the tune of crores of rupees will likely be unearthed after assessment of movable and immovable properties.

First published: August 11, 2017