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IT Raids on Odisha Distillery Group
After two days of raids at various locations in Odisha and Jharkhand, income tax investigators believe they have recovered approximately Rs 290 crore. The current raid is the biggest black money robbery carried out by any agency in a single operation due to the significant amount of cash stolen from various places, according to PTI, citing official sources. The revenue department has installed about forty machines, large and small, to count cash notes. Additional staff members from the department and the bank have been called in to complete the counting operation. The IT division started carrying out raids on Boudh Distillery Pvt Ltd and other entities.
Additionally, the department has seized more vehicles to transfer the seized funds to state government banks. Besides several properties owned by the spirits-making company, the I-T department also raided the office of Dhiraj Prasad Sahu, Rajya Sabha MP from Jharkhand for the Congress, according to people who spoke to the news agency. So far, neither the Congress MP nor the distilling group have released any official comments. Tax officials are currently recording returns made by various corporate officers and other relevant parties. The cash count is also expected to be completed by the end of Saturday.
According to the news agency, a total of around Rs 290 million in undeclared cash is expected to be seized. So far, around Rs 250 crore cash has been seized by the I-T department and black money is still being deposited in official bank branches of Odisha. Most notes have a denomination of ₹500. The amount of money seized during the IT raid is the largest ever received by an Indian agency. IT officials recovered approximately Rs 230 million cash worth eight to ten almirahs from one of the company’s locations in Bolangir area. According to sources who spoke to PTI, the remaining funds were found in Titlagarh, Sambalpur and Ranchi.
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Source: vtt.edu.vn