Rs 10 Crore Cash, 6 Kg Gold Unearthed in I-T Raid in Chennai
All the cash recovered in the raid was in demonetised Rs 500 and Rs 1,000 notes.
The Income Tax department has seized Rs 10 crore in cash and 6 kg of gold jewellery as a part of its anti-black money crackdown in Chennai.
Officials said the cash seizures, all in demonetised Rs 1,000 and Rs 500 notes , was made during a raid on a trader dealing in imitation jewellery located in Periamet in the city.
They said that the department’s sleuths acted against him based on a tip-off that he had stashed money in scrapped high-value notes. The trader was then questioned about the source of the huge cash haul.
The raid was part of the taxman's anti-black money drive post demonetisation on 8 November.
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