Money is not everything but has the power to buy almost anything. Every nation faces the problem of black money and aims to cease the circulation of the same.
Remember when PM Modi announced demonetisation to eliminate black money from the system? He thought the problem would end, but it persisted, and authorities were caught in possession of large stashes of cash. The concept is not at all new, it used to happen earlier as well, and is called a raid (income tax raid or police raid).
It is when the officials who bear the responsibility of making sure that no illegal transaction should occur but come across people who don't abide by the rules that a raid takes place.
Today, you'll be going through stories of such raids that are not only surprising but are considered to be the some of the major raids carried out by our income tax department post demonetisation.
Corruption starts from within the system and this incident is one such example. Senior Superintendent of post offices in Hyderabad was caught by the CBI in possession of Rs 65 lakh rupees, all of it in the new Rs 2000 denomination notes.
Government's objective for implementing demonetisation failed in other cities as well. On December 9, 2017, in Surat, Rs 1.57 crore in new currency notes was discovered from different locations of the city.
Heard of the place called Challakere in Karnataka? During a raid, Rs 5.7 crore cash in new bills and Rs 90 lakh rupees in old notes were found from a hawala operator's bathroom on the basis of on the basis of searches that began against casino and bullion traders in the city. The income tax department zeroed in on 32 kgs of bullion (gold biscuits) as well.
Even small towns like Bhilwara in Rajasthan were not far behind. In a raid on December 10, 2017, Rs 7,20,000 was seized in new 2,000 rupee currency notes.
It was on December 10, 2017, that over 13 crores rupees was seized during a raid at a law firm in south Delhi. Over Rs 2.5 crore in new currency notes and Rs 7 crore in old 1000 rupees notes and Rs 3 crores in old 100 rupee notes were recovered from the law firm T&T.
That's quite a lot, right? Wait until you read the next one.
On the same day, the income tax department seized Rs 24 crore in new notes from Chennai. It was one of the biggest busts where unaccounted assets of worth Rs 142 crores were recovered (gold and money, collectively) post demonetisation. The initial amount now has risen to 166 crore rupees.
But, you're about to come across one of the best raids.
Raj Kumar Gupta directed Indian crime drama film Raid features Amay Patnaik (Ajay Devgn), a fearless Income Tax officer who carries out a non-stop raid at Tauji's mansion, the most powerful man in Lucknow.
Raid is the story of longest running Income Tax raid in the Indian history. And this thrilling experience awaits your presence, so witness and enjoy it on March 16, 2018 in theatres near you.
See you there, folks!
Source: Business Today