Press Trust of India, New Delhi | By Press Trust of India
The Income Tax Department seized on Thursday gold jewelry, bullion and cash valued at over 20 crore rupees as part of its anti-black money campaign against illegal private safes operating in the national capital.
With the latest seizure, the total value of these alleged corrupt funds reached over Rs 61 crore.
Last week, the department seized unrecorded cash and bullion worth Rs 41 crore from several lockers located in a private safe in Delhi’s South Extension area.
Sources familiar with the operation said computer detectives recovered Rs 16 crore in cash, bullion worth Rs 2.35 crore and jewelry worth Rs 1.01 crore and a few more. Gold items totaling Rs 20.04 crore after opening another private safe in the facility in the past two days.
The assets are believed to be owned by a gutkha builder and trader based in the nation’s capital.
In total, four of these vaults, owned by individuals and entities, have been opened so far, they said.
They said the department had taken tax evasion and benami asset law prosecutions against illegal safe deposit boxes.
“The case concerns cases of black money detected after demonetization and others under review under the new anti-benami law. Lockers are now open and unrecorded assets are seized, ”said a senior official.
The appraisers would not have declared these goods to the tax authorities and would have hidden them in these coffers.
Private lockers or safes, which function like normal bank lockers, are illegal and not recognized by law.