I-T dept seizes Rs 1.4 crore in cash, including new notes

The Income Tax department on Friday said it has seized Rs 1.4 crore cash, including Rs 8 lakh in new currency, in searches on the premises of a civil contractor here as part of its anti-black money drive post demonetisation.

Officials said the seizure was made from a civil sub contractor identified as P L Soni, from a location in the Karol Bagh area.

They said the department conducted the searches based on a tip-off of alleged illegal cash being hoarded at this location.

‘The seizure of new currency was made in the denomination of Rs 2,000 notes. The old notes that were seized include the demonetised currencies of Rs 1000/500 and also the legal tender of 

Rs 100,” they said. The department also conducted a survey operation at the Krishna Nagar branch of Axis bank here in connection with a probe, they said.