Rs. 24 crore in Rs. 2000 notes seized on day 3 of I-T raids

On day three of raids, Income Tax officials have seized Rs. 24 crore in Rs. 2000 notes from three men — J. Sekhar Reddy, Srinivasalu and Prem — in Vellore.

A senior Income Tax official who confirmed the news, said,  “We have unearthed more Rs. 2000 currency notes. We are investigating them on how they got these notes.”

Until Friday, the Investigation Directorate of the Income Tax Department had seized Rs. 96.89 crore in demonetised notes, Rs. 9.63 crore in Rs. 2000 notes and 127 kg of gold worth Rs. 36.29 crore in Chennai from the trio.

The taxmen began their search on December 8 at eight premises (six residential & two offices).

The searches are in progress.

Source:The Hindu