I-T Dept Seizes Rs 2 Cr During Raid At Businessman’s Residence In Bhubaneswar

Bhubaneswar: The Income Tax (I-T) department on Thursday seized Rs 2 crore during raid on the house of a businessman in Odisha capital.

According to sources, the seizure was made from the printing press at the basement of the house of Ranjit Jain at Budheshwari colony in Laxmisagar area. Initially, GST officials had raided the premises and informed the I-T department on finding large amount of cash in there. The I-T raid began around 10 am on Wednesday and went on late into the night.

The businessman and his family members are being questioned on the source of the cash to ascertain whether it was stashed for use during elections in the state since flexes and banners of a political party were also found at the press. Their account details are also being examined, the sources added.