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Income Tax sleuths seize cash, gold in Karnataka

 Bengaluru, April 21: Income-Tax (I-T) sleuths seized Rs 4.13 crore in cash and 4.52 kg gold jewellery valued at Rs 1.32 crore during raids conducted over the last three weeks in poll-bound Karnataka, an official said on Saturday. “Of the Rs 4.13-crore seized, Rs 4.03 crore is in Rs 2,000 and Rs 500 currency notes, with Bengaluru accounting for Rs 2.47 crore and Ballari Rs 55 lakh,” said state I-T Director-General (Investigations) G. Ramesh in a statement here. The rich mining Ballari town is 330 km from Bengaluru.

“We have stepped up surveillance and monitoring of activities in view of the state assembly election. Seizure in higher denomination rises eyebrows, as people are finding difficulty in drawing cash from banks and ATMs due to its shortage in some parts of the country,” asserted Ramesh. High alertness at airports and railway stations across the state led to detection of a person carrying Rs 16.5-lakh in cash at one of the airports without valid proof of its source. “A follow-up action against the accused person led to detection and seizure of additional Rs 37 lakh in his Mumbai premises. We have seized all the cash amounting to Rs 53.50 lakh,” pointed out Ramesh. In raid, the sleuths seized Rs 55 lakh in cash from a person to whom a contractor paid in a districts and confession by the latter of concealing Rs 16 crore to evade paying income tax on it. In another case, household articles valued at Rs 9.51 crore intended for distribution was found in a warehouse near Mysuru. (IANS)