Income Tax department recovers Rs 66 lakh cash in new notes in Hyderabad

Cash worth Rs 66 lakh, in new currency of Rs 2000 notes has been seized by the Income Tax department as part of its anti-black money crackdown operations in Hyderabad.

The first incident, that occurred on the night of December 16, was reported at the Telugu Academy in Himayatnagar when an I-T team intercepted few people who ran into a nearby apartment on seeing the team.

“Search of the apartment led to recovery of Rs 36 lakh cash, all in Rs 2000 denomination. Sources of the cash are being probed into,” I-T sources said.

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In the second incident in the same city on December 17, department investigators along with police intercepted a speeding Honda Activa in the Tank Bund area.

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“Cash of Rs 30 lakh in Rs 2000 denomination was found with two persons. The case is being probed,” they said.The sources added that these two interceptions were made in the city as part of taxman’s anti-black money probe post demonetisation. 

FULL COVERAGE: BLACK MONEY CRACKDOWN