Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, 09 December, 2016.


Seizure of Rs. 106.52 crore Cash and 127 kg Gold in the case of
Sand mining Contractors at Chennai by the Income Tax Department

The Investigation Directorate of Income Tax Department at Chennai conducted searches on 08.12.2016 in the case of a group engaged in sand mining. The group has sand mining licence for the entire state of Tamil Nadu. Eight premises (six residential & two offices) were covered in the search. During the search, Rs. 96.89 crore cash in Old High Denomination Notes and Rs. 9.63 crore in new Rs. 2000 currency notes along with gold weighing 127 kgs worth approximately Rs.36.29 crore were found and seized, as unaccounted assets.

The search is still in progress at 4 out of total 8 premises. More specific details including modus-operandi would emerge after examination of the documents and other evidence detected during the search.

(Meenakshi J.Goswami)

Commissioner of Income Tax

(Media and Technical Policy)

Official Spokesperson, CBDT.

More Under Income Tax

One Comment

  1. SASTHAMANI says:

    This raid could have been conducted even before Nov 8th and remonetisation has nothing to do with this. In fact, had this been carried out earlier, more black money could have been unearthed. Having brought in re-monetisation, causing misery to ordinary people (with whom our PM has talks even in dreams), his Govt has to show some performance for trumpet blowing, much in the same way as Mrs. Indira Gandhi did after emergency in 1975. Curse on us!

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

September 2021