new delhi in a major crackdown on terror financing the income tax department on friday said it has unearthed undisclosed cash jewellery and property papers worth several crores in jammu and kashmirsearch operations were conducted at five locations in kashmir valley and a few places in jammu on thursday the department said in a statementthese actions are part of the departments continued drive against use of black money by disruptive elements in the state the operations also send a message of deterrence and obviation to those intending to vitiate the democratic process of free and fair elections it saidthe tax department further said one operation was against a prominent line of control loc trader who apparently used proxies to conduct large crossloc trade in the past six yearslarge undisclosed profit earned by him has been diverted to allegedly suspect elements in the valley during the action documents of transactions in the names of some of the proxies were found investigations are in progress to determine the clandestine crossloc trade conducted by the tax evader through the custodian of the trade facilitation centre srinagar it saidthe tax department also said the preliminary results of the search operation are extremely encouraging in the aggregate undisclosed cash of rs 144 crore and unaccounted jewellery worth rs 248 crore have been seizedthe documentary evidence collected and examined so far shows undeclared property transactions of more than rs 41 crore primarily in the kashmir valley and concealed financial transactions of nearly rs 17 crorea number of hard disks have also been seized that prima facie corroborate the evidence found in the seized documents the department saidthe department also covered a hotelier and a retailer of liquor in the kashmir valleyevidence found in the search shows that he has been earning large undisclosed profits on the sale of liquor as well as from his hotel business and he has not shown cash receipts in his books of account