Officials said the seizure was made late on Saturday when a person identified as a BJP functionary of the state was intercepted by an EC team in the district limits of Ahmedabad while travelling in a four-wheeler.
The seized amount of Rs 50 lakh has been reported to the Income Tax department while the person has been booked under section 117 (abetting commission of offence by the public or by more than ten persons) of the IPC, they said.
The total amount in the intercepted vehicle was Rs one crore but Rs 50 lakh was withdrawn from the bank account and the person had its receipt. Hence, the said amount was not seized, officials said.
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