I-T dept seized assets worth Rs 299 cr till Oct
The value of assets seized by the Income Tax department during search and seizure operations till October this year (FY 2011-12) is Rs 299.63 crore, Minister of State for Finance S S Palanimanickam told the Lok Sabha in a written reply.
The department seized assets worth Rs 774.98 crore in 2010-11, Rs 963.50 crore (2009-10) and Rs 550.23 crore (2008-09).
To another query, the Minister said the Enforcement Directorate has recovered Rs 9.28 crore in cash during searches of a firm – C P Vaults – in Connaught Place in Delhi on June 26.
"Certain documents, laptops, mobile phones were also seized. Investigations in the matter are in progress," the Minister said.