Chennai: IT officials seize demonetised notes worth Rs 10 crores

Chennai [India]: In Tamil Nadu, the Income Tax department has seized 10 crore rupees cash and 6 kg gold jewellery in Chennai as part of its anti-black money crackdown operations.

Officials said, the seizure, all in demonetised notes of 1,000 and 500 rupee, was made after searches were conducted against a trader dealing in imitation jewellery located in Periamet area of Chennai.

They said that the department sleuths acted based on a tip off about stashing of huge currency in scrapped high value notes. He is now being questioned about the source of the huge cash haul.

Earlier this month, the Income Tax department raided eight locations in Chennai including Anna Nagar and T Nagar, seizing Rs 90 crore in cash out of which Rs 70 crore were in new notes. (ANI)