Diwali Profits Under the Lens: Sonigara, Neelkanth, and Rathod Jewelers Face Income Tax Raids in Pune

Sumit Singh

Pune, 19th October 2023: The Income Tax Department has launched a series of raids on several prominent jewelers in Pune. The operation, spearheaded by over 80 tax officials, has cast a spotlight on the jewelers’ financial affairs during the lucrative Diwali season.

A convoy of more than 40 vehicles, bearing the emblem of the Income Tax Department, descended upon the well-known jewelry showrooms today morning.

This exhaustive operation has not spared any branch or the personal residence of the jeweler’s director. The rationale behind these raids seems to be rooted in concerns about the potential for excessive profits during the Diwali season, and this has prompted the Income Tax Department to spring into action.

With the raid still underway, the city is abuzz with discussions about the far-reaching implications of this unprecedented operation. The in-depth scrutiny, supervised by the Director-General of Income Tax Pune, paints a picture of relentless determination in uncovering any undisclosed financial dealings.

The full report on the outcome of the Income Tax Department’s investigation is expected to be disclosed very soon told official from income tax department.