Nation Current Affairs 04 Jun 2017 Vijayawada: Vendor g ...

Vijayawada: Vendor gets notice from I-T department for Rs 18 crore in his account

DECCAN CHRONICLE.
Published Jun 4, 2017, 1:29 am IST
Updated Jun 4, 2017, 1:33 am IST
The income-tax department has sent a notice to Mr Lal and demanded an explanation on the cash transactions.
(Representational image)
 (Representational image)

Vijayawada: Income-tax sleuths are investigating the bank accounts of a small-time chocolate vendor, where transactions of a whopping Rs 18 crore have been processed during demonetisation in November last year. The account holder is Kishori Lal and the bank is Renuka Mata Multistate Co-operative Bank.

The income-tax department has sent a notice to Mr Lal and demanded an explanation on the cash transactions. Shocked with the I-T notice, Mr Lal has claimed innocence and has said that he does not have a clue about the transactions that have taken place from his account.

 

Further investigation has led the I-T officials to come to the conclusion that Mr Lal is a small-time trader and has neither the possible sources of such income nor the contacts who would have such huge earnings.

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