The Income Tax Department conducted a raid on Al Muqtadir Jewellery in #Kochi, uncovering a massive case of tax evasion amounting to Rs 380 crore, along with extensive money laundering activities.
The operation included inspections at 30 of the jeweller's stores, which revealed numerous unrecorded transactions. Among the findings was a staggering Rs 400 crore fraud related to gold trading.
Investigators discovered that Al Muqtadir Jewellery had been running an illicit money chain operation, amassing huge sums of unaccounted money.
This illicit money was allegedly used for personal transactions, including a transfer of Rs 50 crore abroad and investments in Dubai, all of which had been omitted from the company’s income tax filings.
The raid also exposed a major scam in the gold trade, involving a Rs 400 crore fraud between Al Muqtadir and Unique Chains, a gold purchasing firm based in Mumbai. The investigation is being led by the IT Investigation Unit from Tvm.
@Portronics@abhishek No need , someone hacked you. You should inform the customers. Why do we know this from someone. please let everyone know from your side.
Pakistani defence minister Khawaja Asif- "If India dares to attack Pakistan & Pak's existence comes under threat, nobody will survive in this world."
He clearly said, they won't let any other country live on this planet if Pak can't.