Noida: The Income-tax department has recovered around Rs 5.77 crore cash after it raided the premises linked to a retired IPS officer in Noida. The I-T sleuths have recovered the cash amount during the search operations conducted at the former IPS officer`s residence in Sector 50.
Official sources told that the cash was recovered during the search operation which was initially called a survey operation, adding that the probe into the matter is underway.
The Official said that the cash–in currencies of Rs 2,000, Rs 500 and Rs 200– has been found stashed in private lockers created in the premises.
The search operation was launched on January 30 after gathering “actionable intelligence” and the action is ongoing.
The retired Indian Police Service (IPS) officer, who is from the Uttar Pradesh cadre, has denied that anything wrong was done. A firm was being run from the basement of ex-IPS officer’s residence. It has 650 lockers.
The reports coming in say that the IT department is yet to register a case. The probe is on to ascertain if the lockers have any connection with `benami property` or not.