Gujarat : Sahajanand Technologies Cash Heist in Surat Raises Eyebrows of Income Tax Department

Surat : A sensational robbery involving Rs 8 crore cash belonging to Sahajanand Technologies Private Limited (STPL) has taken a curious turn, with the Surat Income Tax department now scrutinizing the incident. The reason? The employees of STPL, a leading diamond machine manufacturing company, were transporting the cash to a safe deposit vault when they were allegedly looted by a man posing as an “IT officer” near Katargam.

This incident has shed light on the widespread presence of private safe deposit vaults in Surat, particularly in areas like Katargam, Varachha, and Mahidharpura. According to IT sources, these vaults are increasingly being used by individuals and businesses to store cash and valuables, potentially as a way to evade income tax scrutiny.

While the police continue their investigation into the robbery, the IT department has initiated a probe into the cash deposits made in these private vaults. This probe stems from suspicion that individuals and companies, especially large diamond businesses, are using these vaults to hide “benami” (undisclosed) cash, documents, and valuables to escape the radar of tax authorities.

Adding further intrigue to the story is the unusual sequence of events following the robbery. Police sources reveal that Kishore Dudhat, the manager of STPL, was informed by one of the four employees who were present during the incident when they were allegedly robbed and later released unharmed. However, instead of immediately contacting the police, Dudhat reportedly first picked up the employees from Variav, only then informing the authorities about the robbery. This unusual delay in reporting has raised further questions about the incident.

The sensational robbery and subsequent IT department probe have brought the issue of private safe deposit vaults and their potential misuse into sharp focus. While the police investigation into the robbery continues, the IT department’s scrutiny of these vaults aims to uncover any potential tax evasion practices that might be facilitated by their use. This incident serves as a stark reminder of the importance of transparency and adherence to financial regulations in the diamond industry and beyond.