Hyderabad: The Income Tax Department has seized gold worth Rs 1 crore from Hyderabad’s ‘Gold man’ who flaunted flashy jewellery in public.
The man known as Yadgiri Chinna Goud aka Dargah Chinna Pahilwan, has attracted the attention of the tax department after he made frequent appearances in public.
700 gms of gold seized:
Income Tax Department has allowed him to use 150-200 grams of gold for his personal use while 700 gms of jewellery was deemed as unaccounted and was seized. Officials said that he could not explain the source of income for his expensive purchases, which triggered further probe.
IT officials target individuals with public personas:
Officials are increasingly targeting those who build their public persona around flaunting their wealth and heavy gold jewellery in public. Officials began tracking Pahilwan from his YouTube and TV interviews, before taking action. His numerous appearances with the jewellery made him highly visible and attracted the attention of officials.
Chinna Pahilwan said that rental income and cash-based land deals, buying land at GPA and reselling it at higher prices are his sources of income. Officials said that he only filed one income tax return of around Rs 4 lakh and they found his explanation inadequate to justify the gold holdings.
Chinna Pahilwan, an influential local figure:
He is reportedly active in business, politics, real estate and cultivated a public persona in Gachibowli. His image is built around wearing heavy gold ornaments and being a local influential figure.
The IT Department continues to probe his assets and transactions and other financial dealings.