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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