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I-T dept expands survey operations, detects Rs 100 Cr ‘excess’ sales, cash

Meanwhile, the Finance Ministry has written to police and paramilitary forces to check the movement of huge cash, particularly demonetised 500 and 1,000 rupee notes at civil airports, Delhi Metro, railway stations and bus stations.

Officials said the I-T department brought under its survey action multiple shops and trade counters in Delhi, Bengaluru, Kolkata and Mumbai and has made an inventory of excess cash and sale documents at these locations.

“The operations have been expanded and records of excess sales and storage of cash have been made. The total value of these excess sales and cash at multiple cities is worth about Rs 100 crore. These cases are under investigation and traders have been asked to explain the transactions in due time,” an official said. They said the department has also “impounded” some records of sales and have asked the operators and jewellery traders to produce the records at a later stage.
In the meantime, a flier was intercepted by the air intelligence unit of the tax department at the Indira Gandhi International Airport (IGIA) here for carrying cash of about Rs 50 lakh in denominations of the demonetised notes.

“The flier is being probed. A similar instance has taken place at Kolkata airport and it is under investigation,” the official said.

The CISF, tasked with security of 59 civil airports and Delhi Metro, has enhanced vigil after the Finance Ministry asked the force to keep an eye on instances of huge cash transportation.

Under the survey action, the tax sleuths visit business premises of the trader/operator and make analysis of the available stock and record it, whereas under search operations both residential and business premises are visited by the taxman.

The action was launched by the I-T department after it had received “specific inputs” that some traders, jewellers, currency exchange agents and hawala dealers were allegedly exploiting the recent demonetisation of Rs 500 and Rs 1,000 notes and were changing currencies at “discounted” prices, thereby profiteering illegally.

Centre asks states to ensure security to banks, ATMs

The Centre has asked all states to ensure proper security to all banks, ATMs and vehicles transporting cash in the wake of demonitisation of Rs 500 and Rs 1000 currency notes.
The Home Ministry has deputed three officials to be in touch with state governments to ensure security of banks, ATMs and cash transporting vehicles. The three officials are taking regular feedbacks from the Directors General of Police and the situation in respective states, a Home Ministry official said.

So far no report of any violence or untoward incident has come from anywhere in the country. “We have conveyed to the states that if they require any assistance, we will provide immediately,” the official said.

The central government is expecting the financial situation to be normal in the next four-five days. 

Govt extends concessions on utility, toll payments till Nov 14

In a move to assuage frayed nerves, the Central government on Friday extended the use of old Rs 500 and Rs 1000 notes for paying public utility bills such as electricity bills, property taxes, and water bills by another 72 hours. Besides, no toll would be charged on national highways till the midnight of November 14, government said on Friday, extending the relief to commuters in the wake of junking of Rs 500 and Rs 1,000 currency notes.

Earlier on November 9, the government had announced suspension of toll collection on national highways till November 11 midnight.

“To ensure smooth traffic movement across all National Highways, the toll suspension has been extended till 14th November midnight,” Road, Transport and Highways Minister Nitin Gadkari said on Friday. Instructions have been issued to all concessionaires including BOT, OMT operators and other fee collection agencies about the extension of toll suspension date.

The government said that the decision has been taken in order to avoid difficulties that may be faced by commuters.

A day after Prime Minister Narendra Modi announced ban on Rs 500 and Rs 1,000 notes to tackle corruption and black money, the government had decided to accept such withdrawn notes at toll plazas till November 11 midnight but that led to chaos in the absence of adequate change, causing massive traffic jams.
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