I-T Department seizes Rs 2.35 cr new notes in Assam

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In the midst of cash crunch in the country, Income Tax Department on Thursday seized Rs 2.35 crore in new notes from Nagaon district of Assam as part of its operations against black money hoarders in the wake of demonetisation.

They said a survey was conducted by the sleuths on the business premises of the trader that led to the seizure of Rs 2.35 crore in cash, both in Rs 2000 and Rs 500 denominations.

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They said some “bundles” of Rs 100 were also seized and the majority of the new notes bundles were “not in series”.

The probe is in progress and some documents of sale and purchase are being scrutinised, they added.

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