Piles of cash worth Rs 60 crore, hidden under bed and mattress, recovered in Income Tax raids in Agra

By: Admin
May 21, 2024
Categories: Income Tax|Income Tax News
4 Min Read

Nearly Rs 60 crore cash was recovered from a premises linked to a shoe trader in Uttar Pradesh’s Agra in an Income Tax raid on Saturday (May 18), the officials said. The money was seized after raids were conducted at six places linked to three shoe traders in the city, in which seizures were made from one businessman, according to a report by Bhaskar news. The notes were seized from the residence of the owner of Harmilap traders, Ramnath Dang.

How was the cash recovered?

According to the report, notes were hidden under the bed, mattresses and cupboard. The pictures of the recovery were released and went viral. In the viral image, piles of notes could be seen spread on the bed and the bag on the floor was also full of cash.

The officials had to get 10 machines from the bank to count the money recovered in the raid.

The I-T action at six places came after the department received inputs of tax evasion by three businessmen, the report said.

The targets of the raid include three notable shoe traders suspected of involvement in tax evasion and illicit financial activities. The Income Tax team conducted simultaneous raids across various cities, with a particular focus on Agra. The authorities seized over Rs 60 crore in cash, along with numerous documents.

Source from: https://www.indiatvnews.com/crime/uttar-pradesh-income-tax-raids-piles-of-cash-worth-rs-60-crore-hidden-under-bed-and-mattress-recovered-in-it-raids-in-agra-shoe-traders-latest-updates-2024-05-20-932358