Maximum black money seized from Ludhiana
PTI | January 24, 2012
Income Tax department has so far seized unaccounted Rs 12 crore cash since the model code of conduct was enforced in Punjab ahead of the Assembly elections.
"Of the total cash confiscation of Rs 28 crore from various parts of Punjab by State Static Surveillance teams since December 24 last year when the model code of conduct came into force, Rs 12 crore were unaccounted money," a senior Income Tax official said.
"The amount which has been seized is mainly unaccounted business income from trading, manufacturing and real estate sector," he said, adding that rest of the money was returned after carrying out due verification.
The industrial city Ludhiana tops the list of cities where maximum amount of black money has been unearthed by the Income Tax department.
"After Ludhiana, maximum amount of unaccounted cash was confiscated from Patiala and Mohali," the official said.
However, the department did not find any cash which was to be used in elections to bribe voters.
"Our motive is to seize cash which is unexplained. It is very difficult to ascertain the cash so seized was to be misused in elections," the official said.
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