Income Tax department raids Pune bank after Rs 10 crore tip-off

Pune: The Income Tax department today conducted searches on multiple lockers in a Bank of Maharashtra branch in Pune in connection with its tax evasion probe in the alleged stashing of funds post demonetisation.

The lockers in the banks branch in Parvati area of the city belong to a private firm. The taxman conducted the searches after getting inputs that huge cash to the tune of about Rs 10 crore is kept in them, both in new and old legal currencies of Rs 2,000 and Rs 100.

“The lockers are being searched in the Bank of Maharashtra in Pune. The seizures will be effected soon,” a senior I-T Department official said at the time of going to the press.

The I-T department has sought cooperation from the bank authorities to obtain all the transactions of the said firm in the branch even as counting of the cash is being carried out at present.