Income Tax dept cracks down on terror funding in Kashmir valley

Income Tax Department has conducted search actions at 5 locations in the Kashmir Valley. Few places in Jammu were also searched. In a release, the CBDT said, these actions are part of the Department’s continued drive against use of black money by disruptive elements in the State. It said, the operations also send a message of deterrence and obviation to those intending to vitiate the democratic process of free and fair



elections. 

The Ministry said, the preliminary results are extremely encouraging. In the aggregate, undisclosed cash of one crore 44 lakh and unaccounted jewellery of 2.48 crore rupees has been seized. The documentary evidence collected and examined so far shows undeclared property transactions of more than 41 crore rupees, primarily in the Kashmir valley and concealed financial transactions of nearly 17 crore rupees.