IT dept seizes Rs 4.5 cr in cash after raiding UP businessman
New Delhi: The Income Tax Department is conducting raids at multiple locations in NCR, Kanpur and Lucknow belonging to businessman Devender Pal Singh, a director-level officer in the Entrepreneurship Development Institute located in Kanpur.
Singh was detained on Friday night from Kanpur after a chase by IT officials from Lucknow wing along with the local police.
The raids are underway at Shahdara and Ghaziabad. A source said that the raids started on Friday night and are still going on.
The source said that since Friday, cash to the tune of 4.25 crore has been seized.
The IT officials questioned Singh regarding the cash recovered in the raids, but he failed to give any satisfactory answer.
“Singh was detained in Kanpur following a tip-off when he was going somewhere in his car. The IT officials with the help of Kanpur police chased him and intercepted his car. During a search, cash to the tune of Rs 1 crore was recovered from his car,” said a source.