BENGALURU: The Income tax department in Karnataka-Goa is continuing its proactive role in combating the role of money power in the ongoing Lok Sabha elections. Cash above Rs 4 crore has been seized in various searches carried in the Karnataka-Goa region.
Based on credible intelligence that cash would be transported from Bangalore to Shimoga and Bhadravati, a cash handler was intercepted and his vehicle was searched. Cash in Rs.2000 denomination has been found stuffed inside the Stepney wheel of the vehicle. Cash of Rs. 2.30 crore has been found. Follow up searches are underway in Bhadravati where a further seizure of Rs 60 lakh is expected.
On the basis of the local intelligence received, the house of a bank employee was covered at Navanagar, Bagalkot. The intelligence suggested that the person is accumulating cash for distribution for election purposes. A seizure of Rs 1 crore has been made so far in this case.
Both these were cases where the seized cash was meant for distribution during elections. What is interesting is that the persons in charge of cash transport and distribution had removed several notes from each bundle: an average of 4 notes was removed from each bundle of 100 notes of Rs 2000 denomination.
Another search is underway in Goa and the department has been carrying out a search on two brothers who run a Jewelry business in Goa. Two residential premises are covered in search and 2 business premises under survey. Search is being carried out on the basis of Information received that they mainly carry out business deals in cash and the cash so generated is potentially used for providing accommodation entries against cheque issued by the parties who need cash. Cash in excess of Rs 30 lakh is being seized from this premise.
Cash in excess of Rs 10 lakh was also seized at Vijayapura in another search.
