Taxmen nab jeweller with diamonds worth Rs1 crore on Delhi airport

A prominent South Delhi jeweller was detained by the Income Tax officials at the Indira Gandhi International Airport (IGIA), in Delhi, for allegedly carrying diamonds and gold ornaments worth Rs1 crore without declaring the same.
    
The Air Intelligence Unit (AIU) of the department, acting on the basis of a random profiling of large tax payers, zeroed in on the jeweller, when he was about to board a Mumbai-bound flight with the stash.
    
Diamond pieces, gold ornaments and some gold plated designer jewellery were recovered from his baggage. He was later detained. Following his detention early this week, searches were conducted at his offices where documents allegedly related to tax evasion to the tune of Rs2 crore were recovered.
    
The jeweller was travelling to Mumbai to exhibit his collection which was not accounted for in his declared assets with the department, official sources said. The new software based '360 degree' profiling system has brought some recent successes for the I-T department in detecting tax evaders.
    
The system follows the transactions of a tax payer in a "dedicated" manner, giving the taxman the actual picture of all investments and cash deposits of an individual.