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Siliguri : I.T. dept. conducts raid at residence of businessman

Siliguri (West Bengal) [India], Dec. 23 (ANI): The Income Tax (IT) Department on Friday conducted raid on the residence of businessman Rup Chand Prasad in the Naya Bazar here.

ANI Dec 23, 2016 18:08 IST googleads

Siliguri : I.T. dept. conducts raid at residence of businessman
Siliguri (West Bengal) [India], Dec. 23 (ANI): The Income Tax (IT) Department on Friday conducted raid on the residence of businessman Rup Chand Prasad in the Naya Bazar here. On Thursday, the Enforcement Directorate arrested businessman Parsamal Lodha for converting over Rs. 25 crore old currency into new. The Enforcement Directorate earlier on December 1 raided multiple hawala operators across the country involved in illegal conversion of old currency notes of Rs. 500 and Rs. 1,000 to valid legal tender since demonetisation on November 8. Income Tax Department till now has made over 760 searches and seizures amounting to Rs. 505 crores, out of which more than 93 crore was new currency. According to IT sources, more than Rs. 3590 crores of undisclosed income has been detected and 3589 notices have been issued. During the searches, the IT Department referred around 400 cases to Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) for further investigation. Also, the IT Department had made 215 references to the ED and 185 references to CBI. The Enforcement Directorate has also been carrying out searches and enquiry at various places in the wake of de-monetisation. (ANI)

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