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I-T probes ₹ 300 cr shady bullion sale black money deposits

News and Press Release - Dated:- 7-1-2017 - New Delhi, Jan 6 (PTI) - Unearthing one of the biggest black money rackets in the national capital post demonetisation, the Income Tax department has detected a ₹ 300 crore shady bullion sale and cash deposits of over Rs six crore in junked notes by a group of traders and mill owners. Officials said the department has identified the kingpin of the entire alleged racket as one A Arora who deposited cash of at least five individuals in his bank acc .....

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dow of the Pradhan Mantri Garib Kalyan Yojna (PMGKY), 2016, they said. Tax sleuths who searched a flour mill based in the industrial area in Delhi found stock difference of ₹ 15 lakh and several signed cheque books in the names of multiple entities. Summons have been issued and the department is probing the bank transactions of these entities, the officials said. The department also raided the premises of a bullion trading firm where I-T officials found that it had sold around ₹ 300 .....

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