The Income Tax department recovered approximately Rs. 40 crore in cash during raids related to shoe manufacturing businesses in Agra. The counting of the seized cash is ongoing, and the amount may increase. The raids took place at three shoe traders in Uttar Pradesh, where significant amounts of cash were found. Additionally, bundles of Rs 500 notes were discovered at the residence of a footwear company owner, and bank officers and employees were summoned to count the notes.

Tax Concept is a dedicated team of financial writers, legal analysts, and tax professionals committed to breaking down complex Indian corporate updates. From real-time GST amendments and crucial Income Tax judgements to EPFO schemes and corporate law updates, TaxConcept serves as a reliable, authoritative guide for chartered accountants, businesses, and everyday taxpayers seeking absolute compliance clarity.
