Petrol pumps under I-T scanner for laundering demonetised notes

NEW DELHI: Income Tax department has launched an investigation against petrol pumps for converting banned notes during demonetisation.

According to a report by private news channel, petrol pumps have come under Income Tax scanner after a survey conducted by the department found petrol pumps converting unaccounted cash.

As per the report, I-T department apprehends that petrol pumps converted high-value demonetised currency and deposited over 20 per cent cash in demonetised currency.


The department is probing if cash deposits were masqueraded as payments from bogus debtors. LPG and CNG distributors are also believed to be under I-T scanner.