Tax Dept. conducted searches on group engaged in organising multi-state gaming activities & online betting
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- Last Updated on 28 February, 2022
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Press Release, dated 24-02-2022
The Income-tax Department has conducted search and seizure operations on a business group engaged in gaming activity, online betting (including cricket betting) on 15-02-2022. A total of 29 premises spread over various cities was covered. The group was operating clandestinely and had concealed its operations and income from law enforcement agencies. The revenue generated by the group from its activities is mainly in cash.
Preliminary investigation has revealed cash turnover of more than Rs. 600 crore in the last 6 months or so. Listed securities worth more than Rs. 550 crore and 30 bank accounts have been provisionally attached so far. Cash (including foreign currency) of Rs. 3.08 crore and jewellery worth Rs. 81 lakh has been seized.
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