CBDT Release on search case conducted recently by the Income Tax department on a 'liquor baron'

PRESS INFORMATION BUREAU

GOVERNMENT OF INDIA

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CASH WORTH RS 2.03 CRORE, JEWELLERY AND ORNAMENTS WORTH THE 

VALUE OF RS.5.18 CRORE, FIXED DEPOSITS OF  RS.4.4 CRORE, AND LARGE 

NUMBER OF DOCUMENTS SEIZED DURING THE SEARCH OPERATIONS BY 

INCOME TAX DEPARTMENT 

New Delhi: Magha 27, 1933

February 16, 2012

It has been reported in certain section of the media that there has been a leak in a search case conducted recently by the Income Tax department on a ‘liquor baron’. It is also being reported in the media that CBDT has instituted an inquiry into the matter. 

In this regard, Central Board of Direct Taxes (CBDT) has mentioned that during the search operations held on 1st February, 2012 with regard to the concerned liquor baron, cash of Rs.2.03 Crore, jewellery and ornaments worth the value of Rs.5.18 Crore, fixed deposits of Rs.4.4 Crore, and large number of documents were seized. Further, restraint orders on 13 bank lockers and 2 other premises are pending. The search is yet to be completed.

As the matter is still under investigation, these media reports are found without any factual basis and only speculative.

DSM/SS/GN