The Income Tax department has seized alleged unaccounted assets worth Rs. 10.50 crore from a tea seller-turned-financier after raids were conducted against him in Surat as part of the anti-black money crackdown post demonetisation.
“The total value of the assets seized from the financier, who earlier worked as a ‘chaiwala’, is Rs. 10.50 crore,” Income Tax sources said as they refused to reveal the identity of the person citing ongoing probe.
They added that while 13 of his bank lockers have been opened till now, four more are in the process to be opened and the expected seizure of assets may increase.
The sources added that the interception was made in the city as part of taxman’s anti-black money probe post demonetisation.
(With inputs from PTI)