Hyderabad: I-T officials are continuing their surveillance of jewellers who sold gold after November 8 by accepting the demonetised currency for a commission.
After cracking down on a jewellery shop at Banjara Hills on December 3, which sold jewellery worth Rs 100 crore after 8 pm on November 8, the I-T investigation wing has gathered details of the deposits made by jewellers in TS and AP after November 8.
“We have identified 12 jewellers out of 50 verified in the two states who deposited more than Rs 50 crore each in demonetised Rs 500 and Rs 1,000 denominations,” said an officer of the IT department.
He said that special teams would begin gathering CCTV footage from the 12 jewellery showrooms. Another officer said that besides monitoring transactions, teams were concentrating on identifying customers seen in the CCTV footage.
Mussadilal firms under scanner
Two firms related to Mus-addilal Jewellers Private Limited MD Nitin Gupta are under the scanner of the income-tax department for bullion and gold jewellery related trade post demonetisation after November 8.
According to I-T sources, two firms including Musaddilal Gems and Jewellers Limited had shown huge bullion sales which was abnormal when compared to the regular business of these firms.
The I-T department has recorded the statements of the two of the employees of Mr Gupta who gave the versions in contradiction to the claims of the jeweller. The staff said they had left the shop.
I-T officials alleged the jeweller had claimed to have taken advances and sold the gold on Nov-ember 8 after demonesiation while CCTV footage showed no customers at the shop.
“He did not take KYC and PAN numbers of the 5,000 buyers who allegedly bought `100 crore worth gold sold. The shop was actually closed 8 pm,” said an income-tax department official....