New Delhi, December 9: The raids conducted by Income Tax department in Chennai have come out as the biggest crackdown post demonetisation with Rs 142-cr worth gold and cash being seized during I-T raids in Chennai on Friday.
This is the largest seizure of new currency notes in the country till date. The Income Tax department launched the raids on Thursday in eight premises of a group engaged in sand mining in Tamil Nadu.
“The group has sand mining licence for the entire state of Tamil Nadu. Eight premises (six residential and two offices) were covered in the search.”
“During the search, Rs 96.89 crore cash in old high denomination notes and Rs 9.63 crore in new Rs 2000 currency notes along with gold weighing 127 kg worth approximately Rs 36.29 crore were found and seized, as unaccounted assets,” the Central Board of Direct Taxes (CBDT) said in a statement today.
It added that the searches are “still in progress at four out of the total 8 premises and more specific details including modus operandi would emerge after examination of the documents and other evidence detected during the search.”
The officials said that the search is still on and the bundles of new Rs 2000 had no banking slips on them.