Rs 7cr cash was deposited in a bank account of an Uber cab driver.
Later the amount was transferred in a phased manner into the account of a bullion merchant.
The cash deposits were made by two of the driver's accomplices.
In a startling revelation, income tax (I-T) sleuths have discovered that Rs 7 crore cash was deposited in a bank account of an Uber cab driver from Hyderabad.
During scrutiny of huge cash deposits in bank accounts after demonetisation of high-value currency, the I-T (investigation) wing sleuths of Hyderabad had zeroed in on the account of the Uber cab driver from Hyderabad, where Rs 7 crore demonetised notes had been deposited in the State Bank of Hyderabad account in a span of a few weeks after November second week. The Uber cab driver has an account in one of the SBH branches. The account was dormant before demonetisation+ ," an I-T official told TOI.
Immediately after the deposits were made, the amount was transferred in a
phased manner into the account of a bullion merchant through RTGS (real
time gross settlement). "When we confronted the cab driver about the
deposits and transfers from his account to the bullion trader, he could
not explain the sources of the cash deposits," an I-T source said.
After zeroing in on the suspicious transaction, the tax sleuths analysed the CCTV camera footage from the bank and surrounding areas. "The examination of CCTV footage of the bank and nearby areas revealed that the cash deposits were made by two of the driver's accomplices," an investigator said.
The taxmen tracked the movements of the two accomplices of the cab driver and apprehended them for questioning on Wednesday."We have grilled the duo about the cash deposits and purchase of gold. We have recorded their statements and the investigation is on," a senior I-T official said.Du ring interrogation, they agreed to pay tax for Rs 7 crore under the Prime Minister Gareeb Kalyan Yojana (PMGKY) scheme+ .
"As per the PMGKY rules, the offenders have to pay about Rs 3.5 crore as tax plus penalty and deposit 25 per cent of the amount in the bank account under the PMGKY scheme, which will remain blocked for four years without any interest," the official said.
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Later the amount was transferred in a phased manner into the account of a bullion merchant.
The cash deposits were made by two of the driver's accomplices.
In a startling revelation, income tax (I-T) sleuths have discovered that Rs 7 crore cash was deposited in a bank account of an Uber cab driver from Hyderabad.
During scrutiny of huge cash deposits in bank accounts after demonetisation of high-value currency, the I-T (investigation) wing sleuths of Hyderabad had zeroed in on the account of the Uber cab driver from Hyderabad, where Rs 7 crore demonetised notes had been deposited in the State Bank of Hyderabad account in a span of a few weeks after November second week. The Uber cab driver has an account in one of the SBH branches. The account was dormant before demonetisation+ ," an I-T official told TOI.
After zeroing in on the suspicious transaction, the tax sleuths analysed the CCTV camera footage from the bank and surrounding areas. "The examination of CCTV footage of the bank and nearby areas revealed that the cash deposits were made by two of the driver's accomplices," an investigator said.
The taxmen tracked the movements of the two accomplices of the cab driver and apprehended them for questioning on Wednesday."We have grilled the duo about the cash deposits and purchase of gold. We have recorded their statements and the investigation is on," a senior I-T official said.Du ring interrogation, they agreed to pay tax for Rs 7 crore under the Prime Minister Gareeb Kalyan Yojana (PMGKY) scheme+ .
"As per the PMGKY rules, the offenders have to pay about Rs 3.5 crore as tax plus penalty and deposit 25 per cent of the amount in the bank account under the PMGKY scheme, which will remain blocked for four years without any interest," the official said.
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