IT department intensifies probe into Rs 40 lakh cash seizure from gold trader in Cuttack

The Income Tax Department has intensified its probe into the seizure of Rs 40 lakh in cash linked to a Cuttack-based jeweller. The investigation is currently underway at the Puri Ghat Police Station, where the person carrying the cash is being questioned by Income Tax officials on Thursday.

According to sources, a three-member team of the Income Tax Department is interrogating Milan Adak, a trader from Kolkata, to ascertain the source and purpose of the cash. Adak had allegedly brought gold from Kolkata to deliver to jeweller Taraknath Sahu and was returning with Rs 40 lakh in cash when he was intercepted by Puri Ghat police during a routine check.

Cash Seizure During Routine Police Check

Police officials reportedly questioned Adak about carrying such a large amount of cash. As he failed to produce valid documents or satisfactory proof related to the transaction, the cash was seized and he was detained for further questioning.

Jeweller Fails to Appear Despite Notices

Following the seizure, the Income Tax Department took over the investigation to examine whether the transaction complied with tax regulations and to probe the manner in which the gold was transported from Kolkata. Sources said notices have been issued repeatedly to jeweller Taraknath Sahu, directing him to appear before the authorities. However, he has reportedly failed to turn up so far.

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Probe Into Source of Cash and Gold Transport

Investigators also claimed that the individual being questioned has not been able to provide clear or consistent explanations regarding the cash transaction. Officials said all aspects of the case, including the source of funds and the movement of gold, are being thoroughly examined.

No response has been received from Taraknath Sahu in connection with the ongoing investigation.