Income tax

IT Dept Discovers Rs 351-crore Black Money Stash: Largest Haul with 50 Officials, 3 Banks, 40 Machines, 176 Cash Bags in Raid

After tallying the contents of 140 out of 176 cash bags, the Income Tax department has quantified what is emerging as the 'highest-ever' black money discovery in a single operation by any agency.

IT Dept Discovers Rs 351-crore Black Money Stash: Largest Haul with 50 Officials, 3 Banks, 40 Machines, 176 Cash Bags in Raid

After tallying the contents of 140 out of 176 cash bags, the Income Tax department has quantified what is emerging as the 'highest-ever' black money discovery in a single operation by any agency. The undisclosed cash seized from locations associated with Congress' Rajya Sabha MP Dheeraj Sahu in Odisha and Jharkhand has been valued at Rs 351 crore as of Sunday.

Commencing on December 6, the raids have progressed, and the latest update indicates that the Income Tax department has managed to account for 140 cash bags out of the total 176.

To conclude the counting of seized cash during the raids by Sunday, around 50 officials from three banks, aided by 40 machines, were engaged in the process.

According to the sources, officials aimed to complete the cash counting by Sunday's end to return the machines to banks for the upcoming normal banking hours on Monday. To expedite the process, additional cash-counting machines and personnel were enlisted on Sunday, with engineers on standby to address any technical issues.

Congress MP Dheeraj Sahu's extended family is reportedly engaged in a significant alcohol manufacturing business, and the majority of the recovered cash is linked to Boudh Distillery Private Limited in Odisha. The Income Tax department interviewed various company officials and others related to the case.

The Congress party denies any connection to Sahu's businesses. AICC General Secretary Communications Jairam Ramesh emphasized that only Sahu can explain the substantial cash discovered by income-tax authorities from his properties.

Prime Minister Narendra Modi, commenting on the large cash pile, insisted that every penny must be returned to the public. The Jharkhand BJP alleged that the over Rs 300 crore cash recovered from the raid was intended for horse-trading and 'resort politics.'

Also Read: December 31 Marks the Deadline for Belated ITR Filing – Consequences for Missing the Date

FILING YOUR INCOME TAX RETURN F.Y 2023-24 (A.Y. 2024-2025) WITH MYITRONLINE

Income tax filing deadline is right around the corner. If you haven’t filed yet, do it now for FREE on Myitronline! Avoid last minute rush and file your tax return today on MYITRONLINE in Just 5 mins.(www.myitronline.com)

If you are looking for eCA assistance to file your income tax return/ GST, you can opt for MYITRONLINE eCA assisted plan starting

Upload Form-16

Upload Salary Individual Form-16

If you have any questions with filing your tax return, please reply to this mail. info@myitronline.com OR call 9971055886,8130309886.

Note-All the aforementioned information in the article is taken from authentic resources and has been published after moderation. Any change in the information other than fact must be believed as a human error. For queries mail us at marketing@myitronline.com

Income Tax Department Uncovers Online Retailers Tax Evasion 10000 Crore

Krishna Gopal Varshney

An editor at apnokaca

View Articles

Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.

Your email address will not be published. Required fields are marked *

Name *

Email *

Your Comment *

Save my name and email in this browser for the next time I comment.