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Income Tax Raid in Agra Uncovers Nearly Rs 60 Crore Cash from Shoe Trader's Residence

Last updated: 22 May 2024

In a significant crackdown on tax evasion, the Income Tax Department conducted a series of raids in Agra on Saturday, May 18. Nearly ₹60 crore in cash was recovered from premises linked to a prominent shoe trader, Ramnath Dang, owner of Harmilap Traders. The raids, targeting six locations associated with three major shoe traders in the city, were prompted by reports of large-scale tax evasion.

Income Tax Raid in Agra Uncovers Nearly Rs 60 Crore Cash from Shoe Trader s Residence

How Was the Cash Recovered?

According to officials, the cash was ingeniously hidden under beds, inside mattresses, and within cupboards. Pictures of the recovered money, showing piles of notes spread across a bed and bags filled with cash, quickly went viral on social media.

The sheer volume of cash required the Income Tax officials to bring in 10 machines from a local bank to count the money accurately.

The Operation

The simultaneous raids were part of a coordinated effort by the Income Tax Department, which had received reliable inputs about tax evasion by these businessmen. The primary targets included three well-known shoe traders in Agra, suspected of engaging in illicit financial activities and substantial tax evasion.

Aftermath and Seizures

Beyond the nearly ₹60 crore in cash, authorities also seized numerous documents that are expected to shed light on the extent of the financial discrepancies. This operation underscores the ongoing efforts of the Income Tax Department to clamp down on tax evasion and illicit financial operations in the country.

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