Income tax dept digs up dodgy transactions worth ₹17 crore in J&K

The income tax (I-T) department on Friday said it has documentary evidence of undeclared property deals of more than ₹41 crore and concealed financial transactions of nearly ₹17 crore in Jammu & Kashmir, primarily in the Valley that involve several local businessmen.

The department stumbled upon these details after it conducted searches in the Kashmir valley on Thursday, an official statement said.

“ These actions are part of the Department’s continued drive against use of black money by disruptive elements in the State,” the statement said. The department has already seized cash of ₹1.44 crore and unaccounted jewellery of ₹2.48 crore.