The Income Tax Department has conducted searches at five locations in the J&K region on Friday. According to statement issued by the department, it seized Rs 1.44 crore in undisclosed cash and Rs 2.48 crore worth unaccounted jewellery in searches conducted in five locations in Kashmir in connection with terror funding activities.

“The actions are part of Department’s continued drive against use of black money by disruptive elements in the State also send msg of deterrence 2 those intending 2 vitiate democratic process of free and fair election,” it said.

The search actions were part of the department’s continued drive against use of black money by disruptive elements in the J-K state

“Undisclosed cash of Rs.1.44 crore & unaccounted jewellery of Rs. 2.48 crore has been seized. Documentary evidence collected shows undeclared property transactions of more than Rs. 41 crore, primarily in the Kashmir valley and concealed financial transactions of nearly Rs.17 crore,” the department tweeted.

The recent searches demonstrate the Department’s resolve to continue to hit at terror financing in the J&K region.

Number of hard disks have also been seized that prima facie corroborate the evidence found in seized documents. Their analysis is likely to lead to 3rd parties that have indulged in property & financial transactions that have been deliberately concealed from the tax authorities.