Income Tax Department unearths Rs 65 crore black money
In a unique case of tax evasion, the Income Tax Department has unearthed an undisclosed income of Rs 65 crore that was earned by exporting human hair, including those offered by devotees in temples and cut in beauty parlours, to countries in Africa and Europe.
The undisclosed income was unearthed after income tax sleuths carried out raids on the properties of a north Karnataka-based exporter and dealer of human hair in the last fortnight.
The department also seized cash and jewellery worth Rs 5 crore in the raids at the residence and office of the exporter, whom the department did not identify.
The department, in a statement, said the sleuths of the investigation wing here found that even the hair “offered by devotees in temples resulted in tax evasion”.