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IT department collects unrecorded cash valued at Rs 150 crore

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IT department collects unrecorded cash valued at Rs 150 crore

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Unrecognized cash worth over Rs 150 crore was unearthed in a series of joint raids by various tax agencies on the business and official premises of a Kanpur-based perfume manufacturer, said Friday sources.

The residential and business premises of Kanpur industrialist Piyush Jain were raided Thursday and Friday by detectives from various anti-tax evasion bodies, including the Income Tax Department, the Central Indirect Taxation Council and customs (CBIC) and the goods and services tax. (GST) Intelligence unit, they said.

Although there has been no official confirmation of the searches and seizures, a senior law enforcement official said on condition of anonymity that searches were carried out at multiple Jain premises in Kanpur, Gujarat. and Mumbai Thursday.

Some photographs of the alleged raids that went viral on various social media platforms showed piles of money buried in large cupboards at Jain’s residential premises in Kanpur.

Jain also runs the perfume manufacturing units in Kannauj district, neighboring Kanpur. Tax officials also raided a “Shikhar” brand manufacturing plant for pan masala and other scented tobacco products here in the city.

During searches of the living quarters, huge sums of money, wrapped in paper, were found, the official added. The money was allegedly linked to shipping goods via fake invoices and without electronic waybills by a freight carrier, the official said.

Meanwhile, reports from Kannauj said detectives at around 3:00 p.m. reached Jain’s Kannauj residence with his two sons Molu and Pratyush, and entered the residence. The raids also sparked a war of words on Twitter between the BJP and the Samajwadi party.

In a Hindi tweet, the UP unit of BJP said: “People of SP, the smell of your sins will not be washed away by the“ scent of corruption. ”More than 150 crore of black silver rupees have been seized. And it is natural for Akhilesh to feel pain when action is taken against corrupt people. “

“The entire UP knows that SP stands for corruption,” the tweet said. Refuting the BJP’s claims, Manish Jagan Agrawal, the digital media coordinator of SP in a series of Hindi tweets said: “The raids at the home of the Shikhar Pan Masala group and the perfume trader Piyush Jain in Kanpur and the money recovered is the story of the failure of demonetization. The BJP and the media slander the SP by forcibly linking Piyush Jain and Shikhar Pan Masala to the SP. Piyush Jain has nothing to do with the SP MLC Pumpi Jain.

“For the past few days, income tax raids have been carried out against people linked to the MS. But the government and the agencies got nothing. The people from the SP came out innocent. As a result, a frustrated BJP immediately raided, and collected the money, and also hatched a plot to link their propaganda with the SP and mislead the people, “Agrawal said in another tweet.

Also watch the IT department raids in the first half of fiscal 22

First publication: STI

IT department collects unrecorded cash valued at Rs 150 crore

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