Income Tax Dept Seizes ₹137 Crore in Raids on Udaipur Businessman

GG News Bureau
Udaipur, 2nd Dec. The Income Tax Department uncovered unaccounted wealth amounting to ₹137 crore during a four-day raid operation targeting properties linked to Tikam Singh Rao, a prominent Udaipur-based transport businessman.

The raids, conducted from November 28 to December 1, spanned 23 locations across Rajasthan and Mumbai. The department seized ₹4 crore in cash and 50 kg of gold, of which 45 kg was undeclared, marking the largest gold recovery in Rajasthan to date.

The operation focused on properties associated with Udaipur Golden Transport and Logistics and other enterprises run by Tikam Singh Rao and his younger brother, Govind Singh Rao. Evidence of substantial tax evasion and investments in luxury cars, real estate, and the hospitality sector was also uncovered.

On November 29, the second day of the raid, ₹3 crore in cash and 25 kg of gold were recovered from Rao’s Udaipur residence. By November 30, after accessing seven bank lockers, an additional ₹2 crore in cash and 25 kg of gold were seized. Out of the total 50 kg of gold and ₹5 crore in cash recovered, only 5 kg of gold and ₹1 crore were declared.

The operation involved over 250 officials led by Awadhesh Kumar, Principal Director of Income Tax, Jaipur. Investigations are ongoing to assess the full extent of undisclosed wealth.