Income Tax Raids on Panorama Group: ₹1.25 Crore Cash, 3 Kg Gold Seized

Patna, Bihar: In a massive crackdown, the Income Tax Department conducted simultaneous raids on more than 20 properties of the Panorama Group across Araria, Supaul, and Purnia districts. The operation, involving around 200 IT officials from Patna, Ranchi, and Bhagalpur, lasted nearly 70 hours and uncovered substantial undisclosed assets.

Key Findings of the Raids

The raids, primarily targeting the offices and residences of Panorama Group founder Sanjeev Mishra, revealed:

• Over ₹1.25 crore in cash
• Approximately 3 kilograms of gold and other jewelry
• More than 400 crucial documents related to land, flats, and real estate transactions

Officials said significant cash was recovered from the company’s main office on District School Road in Purnia. The seized documents, tied to land and property investments, are estimated to hold a value exceeding ₹100 crore.

Scale of the Operation

The raids were meticulously planned, with strict security and restricted external access. IT officials examined bank accounts, land purchase and sale records, investment documents, laptops, and other digital data. Sanjeev Mishra and key employees had their mobile phones and laptops seized for further scrutiny.

Preliminary findings suggest that the Panorama Group maintained no proper books or accounts for cash inflows. Profits were reportedly shared in cash, via property exchanges, or through off-the-book methods, according to department sources.

Under Investigation for Six Months

The Panorama Group had been under the IT Department’s radar for the past six months. Following extensive investigation and evidence collection, the department targeted the group’s diverse entities, including e-homes, schools, and hospitals. Officials indicate that the detailed analysis of the seized digital and physical records could expose one of the largest tax evasion cases in the region.