The Income Tax Department has taken a big action in Nanded city of Maharashtra. Here the IT team raided Bhandari Finance and Adinath Multi State Cooperative Bank and Bhandari Finance. During this, unaccounted property worth crores was found, which has been seized by the Income Tax Department. A large amount of cash was found during the action, which took 14 hours to count.
This action of the Income Tax Department continued for 72 hours. During the raid, the department found unaccounted wealth worth Rs 170 crore from the Bhandari family. Apart from this, 8 kg of gold was found. The Income Tax Department has detected unaccounted wealth worth Rs 170 crore, which was seized.
It took about 14 hours for the officials to count the Rs 14 crore cash found during the raid. This action created panic among the finance businessmen.
Vinay Bhandari, Sanjay Bhandari, Ashish Bhandari, Santosh Bhandari, Mahavir Bhandari and Padam Bhandari of Bhandari family have a big private finance business in Nanded. The Income Tax Department had received a complaint of tax evasion here. Due to this, hundreds of Income Tax Department officials from six districts Pune, Nashik, Nagpur, Parbhani, Chhatrapati Sambhajinagar and Nanded jointly raided. The team raided Bhandari Finance and Adinath Cooperative Bank in Nanded on Friday, May 10.
A team of about 100 officers reached Nanded in 25 vehicles. The team raided Bhandari Finance Private Limited office in Ali Bhai Tower, office in Kothari Complex, three offices in Kokate Complex and Adinath Urban Multistate Co-operative Bank. Apart from this, raids were also conducted at residences in Parasnagar, Mahavir Society, Pharande Nagar and Kabra Nagar.
Income Tax officials did this simultaneously in Nanded. This is the first time that the Income Tax Department has carried out such an operation in Nanded district. Income Tax Department officials continued the operation for three days on Friday, Saturday and Sunday. During this time, all the documents were examined. In the operation that continued for 72 hours, the Income Tax Department has found unaccounted wealth worth 170 crores. The department found 8 kg gold and 14 crore rupees in cash. At present, the Income Tax team is busy investigating the entire matter.