Income Tax Department Seizes Rs 62 Crore Cash From Entry Operator Sanjay Jain, Beneficiaries
Sources added that as entry operator, Sanjay Jain was running operation of huge cash generation through fake bills. "Several shell entities/firms were used for layering of unaccounted money and cash withdrawals against fake bills and unsecured loans. Documents showing entries of over Rs 500 crores seized," they added.
New Delhi, October 28: Income Tax Department has seized Rs 62 crores cash from entry operator Sanjay Jain and his beneficiaries during raids, sources said. This is among the biggest cash seizures from Delhi-NCR post demonetisation.
Raids are underway in 42 premises of Delhi-NCR, Punjab, Haryana, Uttarakhand and Goa, sources said. Sources added that as entry operator, Sanjay Jain was running operation of huge cash generation through fake bills. Income Tax Department Seizes Rs 5 Crore Cash in Raids Against Former Karnataka Deputy CM G Parameshwara, Others.
Income Tax Department Seizes Rs 62 Crore Cash
"Several shell entities/firms were used for layering of unaccounted money and cash withdrawals against fake bills and unsecured loans. Documents showing entries of over Rs 500 crores seized," they added.