The income-tax (IT) department in its largest ever cash haul has seized `44.20 crores from three Delhi-based commodity traders.
“These persons were found to be raising money from the public promising high returns. The area of operation of these persons was Delhi, Punjab, Haryana, Rajasthan,
UP, Bihar, Maharashtra and Andhra Pradesh among others. These persons altogether admitted undisclosed income of `155 crores,” said a spokesperson from Central Board of Direct Taxes (CBDT). The searches were conducted on three commodities traders in Delhi. The actions were conducted by the I-T department on January 18 and January 19.
A few days ago, a similar search was conducted by the department in Asansol in West Bengal. In that search also, cash and bank deposits amounting to `12.57 crores were seized and the persons involved had admitted undisclosed income amounting to `150 crores.
“The drive against tax evasion is an ongoing process. In the last couple of years, I-T department has detected unaccounted income to the tune of `15,000 crores in its search and seizure operations,” said a statement.