Searches were conducted at over 25 locations in Delhi and the National Capital Region by Income Tax Department. These locations are believed to be in connection with its tax evasion probe into the Panama Papers leak cases.

The department had recovered about Rs 4 crore cash and jewelry during the ongoing searches in Delhi, Ghaziabad and Faridabad till now. Furthermore, a number of documents, computer hard discs and CDs were seized.

The Central Board of Direct Taxes (CBDT), which frames the policies of the IT department, had recently said that the probe into the Panama Papers leak cases had led to the detection of the undisclosed wealth of Rs 792 crore and that the probe was on in “full swing”.

The Panama Papers contained brief particulars of 426 Indians or Persons of Indian Origin (PIOs).

Source: Economic Times