Ranchi: The Investigation Wing of the Income Tax Department has seized ₹1.25 crore in unaccounted cash and recovered a large quantity of gold and jewellery during extensive raids on premises linked to the Baba Group, a major rice trading and processing firm operating across Jharkhand and Bihar.
The coordinated searches, launched on January 29, covered nearly 45 locations associated with Baba Agro and Baba Food Processing Pvt. Ltd. The action extended to the offices and residences of commission agents, chartered accountants, company accountants and directors connected with the group.
Cash and Jewellery Recovered on Day Two
Officials said fresh recoveries were made on the second day of the operation, with the bulk of the seized cash traced to premises linked to Yogesh Sahu. Gold and jewellery recovered from multiple locations are currently being evaluated by authorised valuers.
Undisclosed Income Under Scanner
Income Tax officials are questioning key individuals to determine the source of the seized assets. As no satisfactory explanation has been provided so far, the department is treating the amount as undisclosed income under the Income Tax Act.
The search operation is still underway, and officials indicated that further disclosures are likely as the investigation progresses.
