The Income Tax Department has taken up investigation into the trail of Rs. 6.7 crore which was handed over to it by the police after seizing the cash from an autorickshaw near the office of the Director General of Police here on Wednesday. The money has since been deposited with the Reserve Bank of India.
Senior I-T officials said the investigation had just begun and they were in no position to identify the owners of the money. Unless the owners of the cash and source were identified no action could be initiated. Till the initial proceedings were completed, the officials refused to go by the claim of the Bala Saibaba Trust that the money belonged to it.
A day after the police stumbled upon the money, a member of the trust, T. Rama Rao, turned up stating that the cash was bound for Mysore and meant to be paid for the purchase of land for the trust. He showed documents to police officers confirming that he had withdrawn Rs. 4.98 crore from the Domalguda branch of Andhra Bank by presenting a cheque issued by the trust. The remaining amount was brought from the ashram of the trust at Domalguda.