They also found a case in Nagpur where a large sum of money was deposited in a bank account without the knowledge of the account holder and seven accounts were being fraudulently operated by unknown persons to launder Rs 4.25 crore.
Central Board of Direct Taxes said some investigations at Mumbai found that a syndicate of ground level operators was converting banned currency notes into legal tenders for a commission.
As part of the operation, Income Tax Investigation Directorate sent out a few decoy customers seeking to exchange banned currency notes into new notes.
Another investigation into cash deposits in a bank account in Nagpur revealed that the account holder had no knowledge of the existence of her account where Rs 3.29 crore had been deposited after November 8.
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Enquiries by the Department revealed 6 more such accounts in her and her parents' names. The 7 accounts were opened and operated by unknown persons to launder cash of Rs 4.25 crore.
In Ahmedabad, the I-T sleuths uncovered 24 cartons in the godown of the transporter meant for transport to Delhi were found. Lorry receipts declared these to contain fire crackers.
When the cartons were opened and examined, two cartons were found to conceal currencies in the denomination of Rs 100 aggregating Rs 27 lakhs.
Post the demonetisation of 500 and 1,000 rupee notes on November 8, the tax department has been extensively conducting search and seizure operations to unearth black money.
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