100kg gold, Rs 9 crore seized in I-T raid

LUCKNOW: Approximately 100kg gold and Rs 9 crore cash have been seized from a Lucknow-based jewellery firm during an income tax search that continued for three days.
Investigators are preparing details of financial transactions of the jeweller — Rastogi & Sons — accused of evading tax liability that could run into several crores of rupees.
Principal director of income tax (investigation), UP (east) and UP (west), Amrendra Kumar, told TOI on Thursday that lockers and transactions of Rastogi & Sons done for the past two years were being probed.“We have taken out transaction details of by the company and found several flaws in them. Now, we would be questioning them about these transactions,” said Kumar.
He said the firm’s property would be evaluated to find the extent of tax evasion.