I-T dept seizes over Rs 4 cr from Bengaluru, huge stacks of Rs 2000 found

Mangalore Today News Network

Bengaluru, Dec 01, 2016 : The Income Tax department on Thursday confiscated over Rs 4 crore, mostly in new notes, from two individuals, during a surprise check in Bengaluru for fresh currency stashes.

 

The banknotes were retrieved during searches on premises of an engineer and a contractor, the department said.

While most of the seized money was in the new Rs 2000 banknotes, the rest comprised of Rs 100, demonetised Rs 500 and a few gold biscuits, the officials said.

“Huge stacks of Rs 2000 notes have been recovered. The cash amounts to over Rs four crore. The counting of the seized currency is still on.

“This is one the biggest seizures of the new currency. Some entry operators and bankers are under scanner,” a senior I-T department official said.

The department also found many ID cards on the premises, which may have been used to illegally exchange the old currency, the department officials suspected.

 

Courtesy:HindustanTimes