New Delhi: Remember the scene from movie Hera Pheri where Raju, Shyam and Babu Rao discuss ways to get rich and Raju (Akshay Kumar) exclaims in excitement “paisa hi paisa hoga”? A video of a raid from Kanpur seemed to translate Raju’s words into visuals, but not in a legal way. In a video published by ANI, employees of the Central Board of Indirect Taxes and Customs (CBIC) could be seen counting cash amounting to mor ethan Rs 150 crore that was recovered during a raid at the residence of a businessman from Kanpur, Piyush Jain.
Watch the video here.
The video shows officials from the CBIC and the IT department sitting on the floor in the middle of a room surrounded by more piles of cash, and note-counting machines. Photographs from the raid showed cash stuffed into two large wardrobes at Piyush Jain's residence.
According to the Chairman of CBIC, Vivek Johri, cash worth Rs 150 crore was seized during searches conducted at several locations related to Trimurti Fragrances in Kanpur. "This is the biggest recovery in the history of the CBIC," ANI quoted Johri as saying.
"We got the information that Trimurti Fragrances was working without an invoice or tax payment. We searched their three entities and recovered approximately Rs 150 crore cash," Johri was quoted as saying.
Trimurti Fragrances manufactures the Shikhar brand of pan masala in Uttar Pradesh's Kanpur.
Johri said their Ahmedabad unit received information that a branded pan masala manufacturer was transporting materials without paying taxes. "The Ahmedabad unit of DGGI received intelligence that Trimurti Fragrance, manufacturers of a branded gutkha, are transporting materials without any invoices and without paying taxes," ANI quoted Johri as saying.
"DGGI Ahemdabad team started searches on the manufacturer of pan masala and their supplier. A transporter and a fragrance company of Unnao were also searched as they were providers of fragrance to the pan masala company," he further said.
The report further quoted Johri as saying that one of the parties involved had accepted the case of tax evasion and deposited Rs 3 crore regarding the same.
"A case of fake invoicing and fake credit has been reported...Those involved were dispatching material without any invoice and e-way bills. All the invoices we found were fake," he said.