The Air Intelligence Unit of the Income-Tax (I-T) department intercepted and seized over Rs 50 lakh ‘undisclosed cash’ from a senior official of the Maharashtra government at the Mumbai airport on Friday, said I-T officials familiar with the development. According to the tax officials, the agency intercepted Vikas Rasal, chief executive officer of Mumbai Metropolitan Region Iron and Steel Market Committee, at the airport with alleged undisclosed cash of over Rs 50 lakh, based on intelligence gathered by the department.
The seizure of cash was followed by raids at Rasal’s office and residence in Mumbai. “The tax department conducted raids at five different locations across Mumbai, including Rasal’s office, residence and the residences of some of his relatives,” said an official of the I-T department.
He declined to divulge more details pertaining to the raids, as the investigation into the source of the undisclosed income was still on. Official sources added that Rasal was travelling from Delhi to Mumbai on Friday with personal undisclosed cash.
The Mumbai Metropolitan Region Iron and Steel Market Committee looks into the day-to-day affairs of the biggest iron and steel market in Asia at Kalamboli. Rasal was earlier the divisional joint registrar of cooperative societies for Mumbai and suburban districts. At that time, officials alleged, he had initiated a survey of cooperative societies in the state to zero in on societies that existed only on paper.