Income Tax Dept. and GST officials squatting on the floor of a room with mounds of cash, and three note-counting machines.
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Raids by Tax officials at premises of perfume manufacturer Piyush Jain at&nbsp; Kanpur in Uttar Pradesh as well as Mumbai and Gujarat have led to the seizure of Rs 150 crore in black money so far, according to Income Tax Department sources.</p>
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Photographs from the raid showed huge piles of cash bundles stuffed into two large cupboards.</p>
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Another photograph showed IT and GST officials squatting on the floor of a room with mounds of cash, and three note-counting machines.</p>
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The raids began on Thursday and are still going on, sources said.</p>
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The Income Tax department raided the house, factory, office, cold store and petrol pump of perfume trader Piyush Jain.</p>
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In November, Jain, who is considered close to Akhlesh Yadav, also launched Samajwadi Party perfume, branded as &lsquo;Samajwadi Attar&rsquo;.</p>
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The Income Tax team first reached the Anandpuri residence of Piyush Jain in Kanpur along with the currency counting machine. Similar I-T raids were underway at Jain&#39;s establishments in Mumbai and Gujarat.</p>
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The raids were initiated by GST (Goods and Services Tax) officials for tax evasion. After unearthing details, Income Tax, Department was also informed.</p>
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GST officials said the money was linked to the dispatch of goods via fake invoices and without e-way bills. These fake invoices were created in the name of imaginary firms.</p>
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These invoices were for Rs 50,000 each and more than 200 such invoices – created without GST payments – were found in four trucks inside the trader&#39;s warehouse.</p>
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The factory premises and the premises belonging to a pan masala manufacturer and a transporter who was involved in transportation of goods under the cover of fake invoices, without generating e-way bills were also raided. His identity has not been disclosed so far.</p>
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