Five biggest income tax seizure so far post demonetisation
New Delhi : Prime Minister Narendra Modi had announced demonetisation of Rs 500 and Rs 1000 on November 8 to stop black marketing in India, but some still managed to dig out some ways to stay in the league. To restrict them several successful raids have been conducted in the mean-time.
Here are five biggest Income Tax seizure in post demonetisation:
December 14: The Income Tax department and Crime Branch officials recovered Rs 3.25 crore in old notes from a hotel in Delhi's Karol Bagh locality. The money, according to preliminary investigation, belongs to hawala operators based in Mumbai. The notes were packed in a way that they went undetected through scanning machines at airports.
December 12: The Income Tax department swooped down on several branchces of a cooperative bank in Jaipur and found Rs 1.56 crore and jewellery worth Rs 50 lakh from the premises. The I-T officials searched the bank's premises for three days and during the period bank officials were made to stay inside. The bank's CEO is missing.
December 10: Delhi Police recovered Rs 13.65 crore in cash, including Rs 2.60 crore in new currency notes, from its raid on lawyer Rohit Tandon's firm T&T. Interestingly, Tandon saw the raid at his Greater Kailash residence on his phone. He had declared Rs 125 crore as unaccounted income in October. His son, also a lawyer, tied the knot last year at a Rs 100-crore wedding ceremony.
December 10: I-T officials seized new currency worth Rs 5.7 crore from a hawala operator's secret bathroom chamber, in Hyderabad. Around 28 kg of bullion, about 4 kg of gold and jewellery were also recovered from his house.
December 2: An Income Tax raid on the premises of two engineers and two contractors in Bengaluru found Rs 5.7 crore of cash, all in new Rs 2000 notes. In addition, 7 kg gold and about 9 kg of jewellery were also found, all valued at nearly Rs 5 crore.