The tax sleuths had also seized some notes of Rs 100, demonetised notes of Rs 500 and a few gold biscuits during the operation, they said, adding the department had to call in note counting machines and additional staff to ascertain the value of the cash. What had surprised the tax authorities is the sheer amount of new currency stashed by these individuals at a time when new notes are not available to the common public which is queueing up to withdraw even small amounts from their accounts.
“Rs 5.7 crore is the highest seizure of the new currency in the country post the currency ban on November 8. Some entry operators and bankers are under the scanner. Such volume of new currency cannot be obtained without connivance of bank officials,” a senior I-T department official said. The department has also found a number of identity cards of various individuals from the searched premises which could have been used to illegally change the old currency with new ones.
The taxman also found a number of luxury cars parked in these locations. Two days back, the Enforcement Directorate (ED) had seized Rs 10 lakh cash in new notes of Rs 2000 from the premises of a Kolkata-based doctor. ED had conducted nationwide search operations on Thursday at 40 locations and seized about Rs 1 crore in new notes.
Both the I-T department and the ED, along with other enforcement agencies and police, are undertaking these operations after reports of instances of illegal exchange of old currency and stashing of new currency notes to perpetrate hawala and money laundering like activities.
Sourced from agencies, Featured image courtesy: indianexpress.com
