Kanpur (UP), Dec 24 (PTI) Unaccounted cash worth over Rs 150 crore has been unearthed in a series of joint raids by various taxation agencies at business and official premises of a Kanpur-based perfume industrialist, sources said on Friday.

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The residential and business premises of Kanpur industrialist Piyush Jain were raided on Thursday and Friday by sleuths of various anti-tax-evasion agencies, including the Income Tax Department, the Central Board of Indirect Taxes and Customs (CBIC) and the Goods and Services Tax (GST) Intelligence unit, they said.

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Though there was no official confirmation of raids and seizures, a senior tax-enforcement official said on the condition of anonymity that raids were conducted at Jain's multiple premises in Kanpur, Gujarat and Mumbai began on Thursday.

Some photographs of the alleged raids going viral on various social media platforms showed stacks of cash stuffed in large wardrobes at the residential premises of Jain in Kanpur. Jain runs the perfume-manufacturing units also in Kannauj district, neighbouring Kanpur.

The tax officials also raided a factory manufacturing 'Shikhar' brand of pan masala and other scented tobacco products here in the city.

During raids at the residential premises, huge amounts of cash, wrapped in paper, has been found, the official added.

The money was allegedly linked to the dispatch of goods via fake invoices and without e-way bills by a goods transporter, the official said.

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