I-T takes gold trader into custody for carrying banned notes of Rs 25.50L

Kendrapara: The Income Tax department today started its probe into a case in which a gold trader carrying old Rs 500 and Rs 1,000 currency notes of Rs 25.50 lakh in a car was going towards Kendrapara town.

The team of two officers of the Income Tax reached the Kendrapara police station where gold trader Paresh Nath Saha was detained by the local police since Thursday night.

The currency notes of Rs 25.50 lakh was seized and Paresh Nath taken to Cuttack by the Income Tax officers to elicit information from where the gold trader got so much of money and why he was going towards Kendrapara.

Also read: Rs 25 Lakh seized in scrapped Rs 1,000 notes from trader

Manoranjan Rath, Additional Commissioner, I-T department, said, “Today we came here and investigation has been launched after the Kendrapara police informed us yesterday night that a person has been detained for carrying Rs 25.50 lakh currency notes.”

Notably, on basis of a tip-off, police in hiding near Tinimuhana Chhak in Kendrapara raided the car of Paresh Nath and seized the currency notes and detained the gold trader and his aide.