Cash seizures: Over 30 cases sent to CBI, ED post note ban

NEW DELHI: The income-tax department has referred to Central Bureau of Investigation ( CBI) and Enforcement Directorate ( ED) more than 30 cases where serious irregularities have been detected post demonetisation drive. The department had carried out investigations in more than 400 cases since the demonetisation of Rs 500 and Rs 1,000 notes and seized Rs 130 crore in cash and jewellery and extracted admission of about Rs 2,000 crore of undisclosed income.

“Detecting serious irregularities beyond the Income-Tax Act, the CBDT decided to refer such cases to the ED and the CBI, enabling them to examine the criminal conduct for immediate necessary action. More than 30 such references have already been made to the ED, and are being sent to the CBI,” Central Board of Direct Taxes (CBDT) said in a statement on Tuesday.

The Bengaluru investigation unit has sent the maximum 18 references to ED. These are cases where undisclosed cash in new high-denomination currency was seized by the department. The Mumbai unit has referred a case where Rs 80 lakh in new highdenomination notes was seized.

The Ludhiana unit has referred two cases where seizures of $14,000 and Rs 72 lakh in cash were made. Hyderabad shared a case involving seizure of Rs 95 lakh cash from five persons travelling in a Tata Indica.

Pune’s lone reference stems from a seizure of Rs 20 lakh cash, including Rs 10 lakh in new currency notes from an un-allotted locker of urban cooperative bank, the key of which was in the possession of the CEO of the bank.

Two cases referred by the Bhopal unit are of jewellers against whom evidence of large-scale pre- dating of bills and flouting of PAN reporting norms were detected during searches conducted.

Cases referred from the Delhi unit include one involving Axis Bank where complicity of bank officers in malpractices was detected.