Lucknow: The raids by the Income Tax and Directorate General of GST Intelligence teams on the premises of Piyush Jain, a Kanpur-based businessman dealing in perfumes, has yielded a booty of Rs 160 crores in cash.
Photographs showing two wardrobes stacked with cash have gone viral. The bundles were duly wrapped and secured with yellow tape. The raid, which started on Thursday, lasted for over 24 hours and counting machines had to be arranged to deal with the piles of money.
Finally, the authorities had to requisition the services of a container to ferry the cash to a bank, escorted by two police cars as well as by teams of the Rapid Action Force (RAF).
"This is the biggest recovery in the history of the Central Board of Indirect Taxes and Customs. No arrest has taken place so far," CBIC chairman Vivek Johri told ANI. Besides trading in perfumes, Jain is the manufacturer of well-known Shikhar Gutkha.
As per media reports, Jain had launched Samajwadi Attar (perfume) last month in the presence of SP Chief Akhilesh Yadav. However, the spokesperson of SP refuted the claim and said that none from the Jain family had any relation with the party and its leaders.
The BJP mocked at the Samajwadi party and said that the sacks of currency notes recovered from the premises of Jain belonged to the Samajwadi Party.
The Ahmedabad unit of the GST Intelligence had initially initiated a search operation on the factory premises of Kanpur’s Trimurti Fragrance Private Limited (manufacturers of the Shikhar Gutkha) and the office and godowns of Ganpati Road Carriers. According to officials, the transporter would generate multiple invoices in the name of non-existent firms, all below Rs 50,000 for one full truck load, to avoid generation of e-way Bills while moving the goods.
“The transporter was also collecting the sale proceeds of such clandestine supply in cash and handing it over to the manufacturer, after deducting his commission,” read the statement by the DGGI.
The officers allegedly intercepted and seized four such trucks outside the factory premises, cleared from the factory without invoices and e-way Bills. More than 200 fake invoices used for transportation of goods without payment of GST were also recovered from the premises of the transporter.
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