Demonetisation- Income Tax and CBI raids in Hyderabad

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Sleuths from the Income Tax department as well as Central Bureau of Investigation conducted raids in multiple locations across Hyderabad on Wednesday.

[Also Read: Bengaluru IT raids fallout, ACB registers suo moto case]

As part of its crackdown on cash hoarding post demonetisation, the CBI has seized documents, laptops, mobile phones and Rs 17.02 lakh in new Rs 2,000 currency notes. The CBI has registered a case and arrested four persons in this regard.

Rs 2000

Meanwhile, officials from the Income Tax department conducted raids at the residence of a Hyderabad based businessman who had disclosed Rs 9,800 crore. B Lakshman Rao had disclosed wealth of Rs 9,800 crore through the Income Declaration Scheme.

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