Kanpur: UP Peceriesman Piyush Jain was arrested on Sunday after the Officer of the Directorate General of GST Intelligence (DGGI) found RS 284 Crore “Counted Cash” in Kanpur and Kannauj for the past four days.
The DGGI source said Jain claimed that he had questioned that he received RS 177 Crore at Kanpur and Rs 107 Crore stored at his Kannauj house – by selling 400 kg of gold inherited from his ancestors.
The officer’s investigation has also recovered 250 kg of silver and 25 kg of gold from the place to live in Kannauj.
Jain was arrested for avoiding taxes and made several invoices on behalf of fake companies.
“He said he sold gold with a batch over the past years until small jewelry.
He went on to say that money must be returned to him after deducting income tax,” said an official.
Jain said he sold gold to open a new business.
But tax officials faced with him, said he had not opened a new company in the past five years.
The source said nine drum oil sandals were found in place and bundle RS 2,000 notes recovering from cardboard boxes.
The search team found gold and silver in the secret basement at the Kannauj house, which leads to suspicion that more hidden safes like that on Jain property.
Experts have been called from Lucknow to help find such rooms and domes.