Nashik, May 26 (PTI) The Income Tax Department has seized about Rs 26 crore "unaccounted" cash following raids carried out at a jewellery company based in Maharashtra's Nashik, official sources said Sunday.

The searches were launched following inputs regarding alleged tax evasion by the jewellery company and its promoters, the sources said.

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About Rs 26 crore in cash has been seized till now during the searches, they said, adding that some "incriminating" documents related to alleged undisclosed investments have also been found by the search teams and are being scrutinised.

In a similar action, the department had seized Rs 57 crore in cash during raids at an Agra-based (Uttar Pradesh) shoe trader and some linked entities last week.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)