Demonetisation: 20 per cent of seized illegal assets from Karnataka
Most recovered cash has been in Rs 2,000 denominations; the total seizure of bullion stands at 41.6 kg of gold
Around 20 per cent of the Rs 3,000 crore-worth illegal wealth that has been seized in raids by the income tax department since demonetisation has been from Karnataka. 23 of the 48 cases referred by the department are from Karnataka contributing to almost half of the cases of illegal asset hoarding that have been unearthed.
[Also Read: Rs 1,000 crore seized from K'taka, Goa since demonetisation]
Most of the seizures have been in bullion or new currency notes. Most cash recovered has been in Rs 2,000 denominations. The department has seized total cash of Rs 29.86 crore since November 9, out of which Rs 20.22 crore is in Rs 2,000 denomination. The total seizure of bullion stands at 41.6 kilograms and jewellery amounts to 14 kgs.
Officials
said
that
Karnataka's
capital,
Bengaluru
ranked
top
on
high
value
transactions.
A
total
of
2,47,002
high
value
transactions
have
been
reported
from
the
city
between
2010
and
2016.
The
Director
General
of
Income
Tax,
Karnataka
and
Goa
had
claimed
that
illegal
assets
worth
over
Rs
1,000
crore
was
seized
from
its
jurisdiction
alone.
In
Karnataka,
government
officials
and
bankers
were
under
the
radar
of
the
IT
department.
A
total
of
36
cases
have
been
filed
from
Karnataka
and
Goa
put
together
since
November
8
announcement
on
demonetisation.
OneIndia News