Divided the total amount comes to Rs 300 crore in cash seizures, Rs 79 crore in new RS 2,000 notes, and unaccounted income of Rs 2,600 crore.
The I-T officials made the highest seizure in Chennai where Rs 100 crore in cash was recovered in a single search. The total cash seizure from Tamil Nadu is more than Rs 140 crore, besides gold seizure worth Rs 52 crore.
While this was so, the I-T sleuths seized Rs 14 crore in cash from a lawyer’s office. This incident took place in Delhi. While he had declared unaccounted income of Rs 125 crore in October, a fortnight ago, the same lawyer’s bank accounts yielded around Rs 19 crore, believed to be unaccounted.
Tax raids on December 14 on Bank of Maharashtra Parvati branch in Pune showed one person having 15 lockers and which when opened yielded cash worth Rs 9.85 crore, including Rs 8 crore in new Rs 2,000 notes and the rest in Rs 100 notes. The total amount seized was Rs 10.80 crore, of which Rs 8.8 crore was in new currency notes. It may be noted the related searches had yielded Rs 94.50 lakh of which Rs 80 lakh was in new currency notes.
Post demonetisation, one person opened two lockers 12 times in November and December and when the department checked bank records and CCTV footage, the person was seen tugging big bags in and out of the bank. Bank officials are likely to be questioned.
A Bank of Maharashtra staffer on condition of anonymity said it has allowed the company two transactions of Rs 50,000 each since November 8. But it is unclear if the company has more accounts in other banks and what the source of this massive stash was.
Another tax official said, the company’s representative had all the locker keys and he admitted it belonged to the firm and they were converting banned notes into new currency notes. The firm’s officials couldn’t be reached and emails to two of its directors went unanswered.