[Watch] Rs 150 Cr Recovered In IT Raid At Businessman’s House Carried In A Container

By OB Bureau On Dec 24, 2021

Kanpur: It took a container to ferry Rs 150 crore stashed away in perfume trader’s house here. The Income Tax raid together with the Directorate General of GST Intelligence (DGGI) started on Thursday and lasted for over 24 hours. Counting machines had to be brought in to count the currency, India Today reported.

The container carrying the recovered cash left for the bank and was accompanied by two police cars as well as by teams of the Rapid Action Force (RAF).

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The Ahmedabad unit of the GST (Goods & Services Tax) Intelligence initiated a search operation on the factory premises of Kanpur’s Trimurti Fragrance Private Limited (manufacturers of Shikhar brand Pan Masala and Tobacco products) and the office and godowns of Ganpati Road Carriers (involved in the transportation of goods).

The transporter reportedly would generate multiple invoices in the name of non-existent firms, all below Rs 50,000 for one full truckload, to avoid the generation of e-way Bills while moving the goods, the report quoted officials as saying.

“The transporter was also collecting the sale proceeds of such clandestine supply in cash and handing it over to the manufacturer, after deducting his commission,” read the statement by the DGGI.

The officers allegedly intercepted and seized four such trucks outside the factory premises, cleared from the factory without invoices and e-way Bills, the report added.