NEW DELHI, Dec 6: Cash and jewellery worth Rs

130 crore have been seized andRs 2,000 crore of undisclosedwealth has been admitted bytaxpayers post demonetisation,

the I-T Department said today,adding that over 30 cases havebeen referred to ED and CBI forfurther investigations.

The department has carriedout "swift investigations" in more

than 400 cases since November 8,a CBDT statement said, addingthat concerted action is beingtaken by the department, ED andCBI in detecting malpractices.

"Detecting serious irregular-ities beyond the Income-TaxAct, the CBDT decided to refersuch cases to the EnforcementDirectorate and the CBI,enabling them to examine thecriminal conduct for immediatenecessary action. More than 30such references have alreadybeen made to the ED, and arebeing sent to the CBI," it said.

"More than Rs 130 crore incash and jewellery has beenseized and approximately Rs2,000 crore of undisclosedincome has been admitted by thetaxpayers," it added

In a major assault on blackmoney and terror funding, PrimeMinister Narendra Modi onNovember 8 announced demon-etisation of 500 and 1000 rupeenotes and asked holders of suchcurrencies to deposit it in bankaccounts by December end.

It is estimated that over Rs 14lakh crore of such high value cur-rency notes were in circulation.

As per latest RBI data, Rs8.45 lakh crore worth of suchcurrencies were deposited inbanks till November 27.

Giving details of variouscases which have been referredto ED and CBI, the statementsaid the Mumbai unit hasreferred a case where Rs 80 lakhin new high denomination cur-rency notes were seized.

The Bengaluru InvestigationUnit of the Income TaxDepartment has sent maximumreferences (18) to ED. These arecases where undisclosed cash in

new high denomination noteswas seized by the Department.

The Ludhiana Unit has referredtwo cases, where seizures of USD14,000 and Rs 72 lakh in cash weremade. Hyderabad forwarded a caseinvolving seizure of Rs 95 lakhcash from five persons.

Pune's reference stems from aseizure of Rs 20 lakh cash, includ-ing Rs 10 lakhs in new currencynotes from an unallotted locker ofurban cooperative bank, the keyof which was in the possession ofthe CEO of the bank.

Two cases referred by theBhopal unit are of jewellersagainst whom evidence of largescale predating of bills andflouting of PAN reporting normswere detected during searches.

The cases referred from theDelhi unit include the AxisBank, Kashmiri Gate branchcase in which complicity of offi-cers of the bank in malpracticeswas detected. Acting swiftly, EDhas already arrested two bankofficials in this regard.

Last week, the Central Boardof Direct Taxes (CBDT) had saidthat it has found "various incon-sistencies" in cash deposits in JanDhan accounts and detected aboutRs 1.64 crore deposited by per-sons who have never filed returnsas their income shown is belowthe taxable limit.

The investigations were car-ried out following sudden surgein deposits in such accounts.

Deposits in about 25.5 croreJan Dhan accounts increased toRs 74,321 crore till November30, as against Rs 45,636.61crore on November 9.

Deposit of now-defunct cur-rent notes in banks were allowedfrom November 10. (PTI)

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Tax dept seizes Rs 130 cr cash, jewellery post demonetisation

MUMBAI, Dec 6:

The Reserve Bank today said itwill soon put to circulation Rs 100denomination notes in market withenlarged identification features.

"The Reserve Bank will short-ly issue Rs 100 denominationbanknotes in the MahatmaGandhi Series-2005, without insetletter in both the numbering pan-els," RBI said in a release.

The notes with '2016' printingyear will be similar in design withthe existing Rs 100 notes in theMahatma Gandhi Series-2005having ascending size of numer-

als in the number panels, bleedlines, and enlarged identificationmark, on the obverse.

RBI said it has already put tocirculation Rs 100 currencynotes with the ascending size ofnumerals in the number panelsbut without bleed lines andenlarged identification mark.

These banknotes will remainin circulation concomitantlywith the banknotes being issuednow, it added.(PTI)

RBI to launch new Rs 100currency note soon