×
E-PAPER ▾

E-paper

TOP STORIES

I-T dept seizes Rs 85cr cash, bullion from illegal Delhi vault

| | New Delhi
I-T dept seizes Rs 85cr cash, bullion from illegal Delhi vault

A total of Rs 85.2 crore in cash, bullion and jewelley have been seized by the Income Tax Department after it searched a private vault in Delhi as part of its anti-black money drive.

A fresh seizure of over Rs 23 crore in gold jewellery, biscuits, precious stones and cash was made yesterday by the sleuths of the investigation wing from the vault, official sources said.

Assets worth more than Rs 61 crore were seized by the department over the week from multiple lockers located in the private vault in the South Extension area of Delhi.

Sources privy to the operation said out of the total Rs 85.2 crore stash seized, Rs 8 crore is in cash (mostly Rs 2000 notes) while the rest is bullion, jewellery, diamonds and other precious stones.

The assets allegedly belong to some high networth (HNIs) individuals from Delhi like a builder, a gutkha trader and some businessmen based in the national capital.

They said that the department has initiated proceedings for tax evasion and under the benami assets law against the illegal vault holders.

"The case pertains to black money detected post demonetisation and some others being probed under the new anti-benami law.

"The lockers have been opened now and unaccounted assets seized," a senior official said.

The assesses did not allegedly declare these assets to the taxman and concealed them in these vaults.

Private lockers or vaults, that operate like normal bank lockers, are illegal and not recognised under the law. 

 
 
 
 
 

TOP STORIES

Sunday Edition

View All

Business Corner

24 Jun 2018 | PNS

Book on Renewable Energy Technology Released Hon’ble Union Minister of State (Independent Charge) for Power, New and Renewable Energy, Shri RK Singh released a book titled “Renewable Energy Technology” co-authored by Shri IS Jha, CMD (POWERGRID), Shri Subir Sen, COO (CTU Planning &Smart Grid) POWERGRID, Shri Manish Kumar Tiwari, Asst GM (Smart Grid) POWERGRID and Prof DP Kothari in the august presence of CMD, POWERGRID, senior officials of Ministry of....

Read More

STATE EDITIONS

View All

Uplift the tribals, protecting their customs: Das

25 Jun 2018 | PNS | Ranchi

Recognising the intent and passion of the Central Sarna Committee in safeguarding tribal customs as well as in infusing modern practices into the tribal community, Chief Minister Raghubar Das called upon the people to extend their support to the cause. The Chief Minister, in the same breath, rapped 'anti-national' forces who he alleged are attacking open culture of the community and said that the Government is here to protect the rights...

Read More

Page generated in 0.3429 seconds.