Income Tax Department has raided several houses of a businessman on Thursday and was surprised with the cash bundles they recovered. It was so huge that they required 3 cash counting machines to count the money. Initially, they were counting manually but seeing the massive cash bundles they have to bring machines.
The Chairman of CBIC told ANI that the cash amount was more than Rs 150 crore and officials are still counting the money.
Watch The Video Here
#WATCH | As per Central Board of Indirect Taxes and Customs chairman Vivek Johri, about Rs 150 crores have been seized in the raid, counting still underway.
Visuals from businessman Piyush Jain’s residence in Kanpur. pic.twitter.com/u7aBTJhGxW
— ANI (@ANI) December 24, 2021
All the money was recovered from a businessman, Piyush Jain, who lives in the Kanpur region of UP. IT raided his offices, godowns, and factory in different locations across the country.
The officials also said that they found around 200 fake invoices worth Rs50,000 each from the trucks found inside the warehouse of the trader. The trucks are seized but the trader is not arrested. The investigation also revealed the huge foreign transactions by the businessman and its companies.
The raid began on Thursday and it took several hours for officials for counting the money. It will get completed by the evening on Friday, said an IT official.