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Income Tax officials and police in Surat seized at least Rs 1.57 crore in new currency from separate locations in the city on Friday. While Rs 81 lakh cash was seized during I-T raids on three business premises of a gutkha dealer, Rs 76 lakh was found in a car in Sachin GIDC area.
Acting on a specific input, the tax officials raided three business premises of a well-known gutkha businessman in the city, whose name has been withheld by the I-T department and also seized several documents.
According to sources, the trader’s firm had deposited Rs 11 crore in cash in a bank a few days ago, bringing him under the lens of I-T department.
Meanwhile, police seized Rs 76 lakh in Rs 2,000 banknotes from a car in Sachin GIDC area and detained four persons, including a fashion designer. Those detained told the police that they had come to deliver the new notes in exchange for the demonetised bills on a commission to a client.
Those detained have been identified as Girish Patel, a farmer from Valsad, Rankumar Singh, a Nashik-based businessman, Arun Kashinath Amutar, a resident of Nashik, and Dipti Patel, a fashion designer from Chikhli in Navsari. The I-T department has joined the probe and further investigation is on.