T&T Law in Delhi’s GK-I was raided by a joint initiative of the Delhi police’s crime branch and the income tax department, which found Rs 13.56 crore in cash in new and old currency notes, according to NDTV and the PTI.
T&T’s managing partner Rohit Tandon had declared Rs 125 crore to tax authorities, as we had first reported in October, following a raid on his residence and the T&T offices by the tax department around 6 October after expiry of the 30 September tax self-declaration deadline.
According to an eyewitness, police and many TV vans and camera crews were outside T&T's R – 89, GK 1 office of T&T yesterday.
Correction: The initially published version of the story had mistakenly referred to another firm's office having also had police outside it. That is incorrect and we regret the error.
NDTV had reported that “police said more raids would be conducted in this connection”.
with top of the line CCTV cameras and security features that alerted him about the raid, police said. Police found Rs 13.65 crore in cash from his office-cum-residence, of which Rs 2.62 crore was in Rs 2,000 notes that were introduced after demonetisation.
According to police, if anybody switches on any electrical appliance at Tandon's home, he gets a notification on his phone. Sensing that something is wrong on receiving the alert around 10.30pm on Saturday, he switched to the monitoring feature and watched the raid on his phone. Ravindra Yadav, Joint CP (Crime Branch), said Tandon has gone underground since the raid and Income Tax officials are conducting an inquiry into the source of the money.
We have reached out for comment to Tandon and T&T.
According to the reports of Saturday’s raid at T&T, citing the police, of the Rs 13.56 lakh around Rs 2.5 crore consisted of new currency notes, which were issued after the government declared that Rs 500 and Rs 1,000 would cease to be legal tender. Around Rs 7 crores of the old, soon-to-be-valueless Rs 1,000 were found as well as Rs 3 crores of Rs 100 notes, which are and will remain legal tender.
While possession of cash is not illegal, the income tax department can request whoever is holding the cash to account for and prove the source of income of the money.