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I-T dept seizes Rs 85cr cash, bullion from illegal Delhi vault

Press Trust of India  |  New Delhi 

A total of Rs 85.2 crore in cash, and jewelley have been seized by the Department after it searched a private vault in as part of its anti-drive. A fresh seizure of over Rs 23 crore in gold jewellery, biscuits, precious stones and was made yesterday by the sleuths of the investigation wing from the vault, official sources said. Assets worth more than Rs 61 crore were seized by the department over the week from multiple lockers located in theprivate vaultin the South Extension area of to the operation said out of the total Rs 85.2 crore stash seized, Rs 8 crore is in (mostly Rs 2000 notes) while the rest is bullion, jewellery, and other precious stones. The assets allegedly belong to some high networth (HNIs) individuals from like a builder, a and some based in the national capital. They said that the department has initiated proceedings for evasion and under against the illegal vault holders. "The case pertains to detected post demonetisation and some others being probed under the new "The lockers have been opened now and unaccounted assets seized," a said. The assesses did not allegedly declare these assets to the taxman and concealed them in these vaults. Private lockers or vaults, that operate like normal bank lockers, are illegal and not recognised under the law.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 13 2018. 12:55 IST
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