I-T dept raids Boudh Distilleries in Odisha, Jharkhand; recovers huge amount of cash | Mint
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Business News/ News / I-T dept raids Boudh Distilleries in Odisha, Jharkhand; recovers huge amount of cash
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I-T dept raids Boudh Distilleries in Odisha, Jharkhand; recovers huge amount of cash

IT sources told ANI that the counting of notes up to an amount of ₹50 Crores completed till yesterday but since the number of notes is so high the machines stopped working.

I-T dept recovers huge amount of cash after raids on Odisha-based distillery groupPremium
I-T dept recovers huge amount of cash after raids on Odisha-based distillery group

The Income Tax (IT) Department raided Boudh Distilleries Private Limited in Odisha and Jharkhand and has recovered huge amount of currency notes from the premises linked to the company, news agency ANI has reported. IT sources told ANI  that the counting of notes up to an amount of 50 Crores completed till yesterday but since the number of notes is so high the machines stopped working. 

Additionally, searches are going at Odisha's Bolangir, Sambalpur and Jharkhand's Ranchi, Lohardaga areas.

Official sources told news agency PTI that the searches are being carried out on charges of alleged tax evasion. Official sources told the agency that that the raids were launched on Wednesday and the department officials have deployed counting machines to ascertain the exact amount of cash, that looks to be unaccounted, and could be around 30-50 crore.

The searches are being undertaken in state capital Bhubaneswar, Bolangir, Sambalpur apart from Ranchi and Kolkata.

(More details awaited)

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Published: 07 Dec 2023, 02:55 PM IST
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