Demonetised Rs 500 and Rs 1,000 currency notes worth Rs 22 lakh were today seized by Income Tax Department officials from a businessman at Aluva, near here.
A bundle of new Rs 2,000 notes, worth Rs eight lakh, was also found in the business premises of the dealer of tobacco products, IT sources said, adding they were investigating how new Rs 2,000 notes in such huge quantity reached the hands of the businessman.
The seized money has been deposited in a nationalised bank account for the purpose of carrying out investigation on the source of his income, the sources said.
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