Income Tax Raids on Kanpur Perfume Manufacturer; So Far Rs 159 Crore in Cash Seized from His Residence

In raids conducted at the residence and office of a perfume manufacturer in Kanpur on Friday, the Directorate General of GST Intelligence (DGGI) Gujarat and Income Tax department have recovered a massive amount of cash. Pictures of the counting of money have gone viral, and the figure has already reached Rs 159 crore.

The I-T department raided the house and office of perfume manufacturer Piyush Jain, while the DGGI separately raided the factory of a pan masala manufacturer and office of a transporter allegedly involved in evading tax worth crores by using fake invoices.

The I-T department also conducted similar raids at Jain’s establishments in Mumbai and Gujarat. According to officials, tax evasion worth Rs 159 crore was unearthed during the raids. A cash counting machine was taken to Jain’s house and the process of counting seized currency notes is on with the help of SBI officials.

The DGGI, meanwhile, raided the office and factory of a pan masala maker and a transporter who allegedly transported goods using fake invoices and showed their value to be within Rs 50,000 to avoid generating e-way bills. According to officials, more than 200 fake invoices were recovered during these raids. However, the department is yet to declare an official recovery figure for these raids.

Case of mistaken identity

The BJP, meanwhile, claimed that the I-T department had raided the perfume entrepreneur who recently launched ‘Samajwadi’ perfume endorsed by the Samajwadi Party. Taking the attack on the SP to social media, BJP national spokesperson Sambit Patra claimed that the massive amount of cash seized during the raids was from the house of the person who launched the ‘Samajwadi’ perfume. In a tweet he said, “Samajwadi ka naara hai, janta ka paisa humara hai. In a GST raid on Piyush Jain who launched Samajwadi perfume at the party’s office, more than Rs 100 crore has been found; what kind of samajwadi (socialist) black money is this?”

Samajwadi Party spokesperson Fakhrul Chaand distanced the party from perfume manufacturer Piyush Jain and said he was not the one who launched Samajwadi perfume. Chaand said this was a false narrative being peddled by the BJP.

Earlier, the I-T department had raided the residences of people associated with the SP. The raids took place at the residence and offices of Jainendra Yadav in Lucknow, Rajeev Rai in Mau, Manoj Rai in Agra and some others closely associated with the SP and party chief Akhilesh Yadav. Akhilesh had attacked the BJP over the raids and said the party was misusing agencies.

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