Income Tax dept seizes Rs 10 crore cash, 6 kg gold jewellery in Chennai

The Income Tax department has seized Rs 10 crore cash and 6 kg gold jewellery as part of its anti-black money crackdown operations in the city.

Officials said the seizure, all in demonetised notes of Rs 1,000 and Rs 500, was made after searches were conducted against a trader dealing in imitation jewellery located in Periamet area of the city.

They said that the department sleuths acted against him based on a tip off about stashing of huge currency in scrapped high value notes and the trader was now being questioned about the source of the huge cash haul.

The interception was made in the city as part of taxman’s anti-black money probe post demonetisation of the old currencies on November 8.