The Income Tax (IT) officials found unaccounted cash worth several hundred crores after it carried out searches at the premises of a former Indian Police Service (IPS) office in Noida.
The IT officials reached Sector-50 on late Sunday evening and recovered several currency notes in the denominations of Rs 2,000 and Rs 500. The department is yet to make an official statement on the matter.
According to a report by Times Now, the cash amounting to several crore rupees was kept in the basement of the building. The former IPS officer reportedly ran a firm from the basement, which has 650 lockers. An investigation has been launched to determine whether it has any links with Benami property.
In another similar incident, the officials of the IT department carried out raids at multiple locations in Uttar Pradesh’s Varanasi and Jaunpur after receiving certain intelligence inputs. The IT officials raided a number of jewellers’ premises and a dozen teams were also constituted to probe the matter.
The IT officials instructed all teams to begin raids in Varanasi and Jaunpur after they suspected that some jewellers were involved in pumping Hawala money into the Assembly elections, the Times Now report said.
The officials also prepared a list of jewellers who were reportedly helping people with the Hawala money while suspecting that the money was being made available for the upcoming Assembly elections.
