IT raid yields rich haul

Tiruvallur, May 18 (UNI) Income Tax officials today seized unaccounted money to the tune of more than Rs 60 lakh besides documents on investments runing into several crore from the residence of a businessman in a raid last night.

Sources said a team of 50 officials raided the house and other premises belonging to Mr Kamaraj, a leading rice trader and realtor, last night.

The seizure was made during the raid which ended only this evening, they added.

The raids were conducted after the IT Department cornered an NRI woman from Vadapalani in the city who drew Rs one crore from a bank recently.

Based on this information, the officials conducted the raid, the sources said.

UNI