Sunday, 18 December 2016

Income tax dept recovers Rs 10.50 crore worth assets from tea seller in Surat

Rs 1.45 crore in real money, Rs 1.05 crore in new cash, bullion worth Rs 1.49 crore were recuperated amid the strike.

kalyani pandey Kalyani Pandey December 18, 2016 16:40 IST

demonetisation authorization directorate money seized new cash note

New Currency Notes of Rs 2000 division (representational image).IANS

The Income Tax (IT) division on Saturday seized resources worth Rs 10.50 crore from a tea merchant turn-lender taking after strikes that were directed against him in Surat, Gujarat. The assaults were a piece of the counter dark cash crackdown post the November 8 demonetisation move of the focal government.

About Rs 1.45 crore worth of money of which, Rs 1.05 crore was in new coin, bullion worth Rs 1.49 crore, adornments worth Rs 4.92 crore, different trimmings worth Rs 1.39 crore and pieces of silver worth Rs 1.28 crore was recuperated by the IT office from the tea merchant's premises, Press Trust of India reported.

"The aggregate estimation of the benefits seized from the agent, who prior filled in as a 'chaiwala', is Rs. 10.50 crore," Income Tax sources were cited as saying by the office. At present, the personality of the tea merchant has not be uncovered due to the on-going test.

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Furthermore, the IT office authorities said that in this way, 13 of his bank lockers have been opened up to this point and four more are right now during the time spent being opened. When all the rest of the lockers are opened, the aggregate seizure of benefits will be esteemed.

A week ago, the IT office and the Crime Branch in a joint operation recouped Rs 3.25 crore in old notes from a lodging in the Karol Bagh range in Delhi. Five individuals were captured regarding the case and further enquiry is being done.

Last Saturday, the Delhi police attacked an a law office in South Delhi's Greater Kailash-I territory and recuperated money worth Rs 13 crore. Of the sum recouped, Rs 2.5 crore was observed to be in new cash notes.

As far back as Prime Minister Narendra Modi on November 8 declared the prohibition on Rs 500 and Rs 1000 group notes the nation over, there have been a few instances of the IT office seizing money running into lakhs of rupees at different areas crosswise over India.

The IT office busted a cash trade racket in Chennai that included three people, including an industrialist. The seizures included old (demonetised) and new (Rs 2,000) coin notes worth about Rs 90 lakh and 100 kg of gold.

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