Bhopal, Dec 5 (NationPress) The Income Tax Department executed raids across multiple locations, including the Indore district in Madhya Pradesh, on Thursday.

As per sources, approximately 70 officials from the Income Tax Department have been conducting searches at different sites since the early hours of Thursday.

Coordinated raids were performed at establishments owned by notable business figures engaged in building materials, property brokerage, petrol pump operations, and leading jewellers.

In Dhar, searches were executed at 12 sites, including both residential and commercial properties.

Individuals specifically targeted during these raids include R.C. Jain, a well-known dealer of building materials from Manawar; Golu Pahadia, a petrol pump proprietor; and property brokers Pankaj Godha, Zaheer Sheikh, and Rajesh Sharma.

Meanwhile, in Indore, searches were conducted at the residence of cotton trader Suresh Mehta.

Sources indicate that the Income Tax officials are scrutinizing documents to investigate claims of undeclared wealth surpassing known income sources.

Reportedly, the raids were initiated following a complaint alleging that several prominent businessmen possess assets exceeding their declared income.

In a similar vein, in Rajgarh district, Income Tax officials targeted four jewelry shops, including Kesar and SV Jewelers.

Officials interrogated the shop owners, resulting in the shuttering of their businesses during the questioning. Mobile phones were also reportedly turned off.

The Income Tax Department has yet to reveal its findings, stating that additional details will be provided upon the conclusion of the investigation, according to knowledgeable sources.

Raids continued into the night, accompanied by a heavy police presence.

Buildings where searches were occurring have been cordoned off by police, with several properties sealed.