I-T raids conducted in Kolkata

The Income Tax Department has carried out searches and seizure operation on two separate persons based in Kolkata, who are engaged in handling of cash of others on commission basis.

The search was carried out on March 3 based on intelligence gathered by the department.

The Income Tax Department said that the search operation has resulted in the seizure of total unaccounted cash amounting to Rs 121.50 lakh.

The department, however, did not reveal the identity of persons whose premises were searched.

It said that further investigations were in progress that would bring out more details.