VIJAYAWADA: Sleuths of the Income Tax (I-T) Department reportedly carried out raids on gold and diamond jewellery shops in the city on Saturday. According to sources, three teams of I-T officials raided branches of Anjaneya Jewellers and Bombay Jewellers in Vijayawada, Guntur and other places on Thursday, Friday and Saturday.
Sources added that the inspections were conducted after the department reportedly received numerous complaints and information regarding gold traders resorting to a number of irregularities such as procuring the precious yellow metal and diamonds without bills, and evading tax. Following the complaints, various teams of the I-T Department reportedly conducted raids at two prominent jewellery stores in the city over the last three days.
The sleuths have allegedly seized unaccounted gold worth crores of rupees and also identified irregularities in tax payments. However, no official confirmation pertaining to the raids has been received from the Income Tax Department.