The income tax (I-T) department has identified nearly 400 bank accounts in Madhya Pradesh and Chhattisgarh each of which has received deposits of Rs 1 crore or more since demonetisation of high value currency notes on November 8, Abrar Ahmed, principal chief commissioner of I-T for the two states said here Thursday.
“An amount of Rs 1 crore or more -- in some cases even Rs 4 crore or Rs 5 crore --- have been deposited in 400 bank accounts of people in MP and Chhattisgarh, post-demonetisation,” Ahmed said.
“We have started the process of sending notices to holders of these accounts seeking explanation about the source of money,” Ahmed said.
To a query, the official did not rule out the possibility of such transactions taking place in the accounts of politicians, but added that since investigations were on, it was not proper to comment over it.
Asked why his department has not yet disclosed the outcome of searches at the eight business and residential premises of BJP leader Sushil Vaswani and his relatives, Ahmed said the investigation wing was still working on it. “We might come out with the result of the searches on Friday,” he added.
The officer denied that they were under pressure in the case given that the BJP governments were at the Centre and the state.
Sources in the department confirmed that they were still assessing the documents pertaining to several properties and eight bank lockers owned by Vaswani and his family members.
“We’ve begun the process of opening the eight lockers in three banks, including at the Mahanagar Nagrik Sahkari Bank, which was set up by Vaswani. We have found jewellery and bullion in some of the lockers,” said a senior I-T official.
“The cooperative bank founded by Vaswani has around 10,000 accounts. Each account is being scanned to find if black money was parked there after demonetisation,” he added.
‘Deposit old notes under PMGKY’
Principal chief commissioner of I-T for Madhya Pradesh and Chhattisgarh Abrar Ahmed Thursday said the taxation and investment regime for Pradhan Mantri Garib Kalyan Yojana (PMGKY) has commenced from December 17 and will remain open till March 31 next year. He said that under the scheme, the people can deposit demonetised Rs 500 and Rs1,000 notes till December 30. Under the scheme, declaration can be made by any person in respect of undisclosed income in the form of cash or deposits in an account with bank or post office or specified entity, he added.