I-T Raids 40 Locations in Jharkhand, Bihar; Rs 1.20 Crore Cash Seized from Rice Millers

I-T Raids 40 Locations in Jharkhand, Bihar; Rs 1.20 Crore Cash Seized from Rice Millers

The Income Tax (I-T) Department conducted raids at 40 locations linked to two rice mill owners in Jharkhand and Bihar. During the searches, officials found Rs. 1.20 crore in cash. Sources said that the checking of properties, jewellery, and food grain stocks is still going on.

The raids were started on Thursday by the I-T investigation team from Ranchi and continued for the second day on Friday. The searches covered the homes, company offices, and related premises of rice millers Yogesh Sahu and Gyan Sahu, along with their associates.

Around 500 officials, security staff, and property valuers were involved in the operation. Most of the unaccounted cash was found at Yogesh Sahu’s premises.

Some cash was also recovered from other locations. Officials are now verifying whether this money was properly recorded in the company’s accounts. At the same time, 10 valuers are assessing the value of factories, houses, and food grain stocks.

During the raids, the I-T Department also noticed irregularities in tax deduction at source (TDS) and found that some stock had not been shown in the official records. According to sources, the operation continued till late evening.