Lagatar24 Desk
Lucknow, June 22: The premises of bullion traders and jewellers engaged in the widespread buying and selling of gold were raided by officials of the Income Tax Department. These businesses are suspected of using the illegally obtained money from these transactions to invest in real estate.
The city raids took place in Delhi, Lucknow, Ghaziabad, Noida, Kanpur in Uttar Pradesh and Kolkata in West Bengal.
Two businessmen’s homes in Kanpur were visited by a team from the Income Tax Department, who immediately started investigations.
It is alleged that the illegally obtained funds from buying and selling goods were put into the real estate industry.
Raids were also being carried out at the offices of real estate traders connected to bullion traders.
