Surat: The Income Tax (I-T) department conducted a search operation at the residence of city BJP vice-president, PVS Sarma on the early hours of Thursday. The action comes hours after Sarma alleged involvement of I-T officers, builders, jewellers, textile and diamond industrialists in the Rs 2,000 crore money laundering scam perpetrated at the time of demonetisation in November 2016.
Simultaneous search operations were conducted out at about 10 locations in the city and four each in Mumbai and Thane to over suspicion of illicit transactions and disproportionate assets of Sarma and his close associates.
Sources said that the I-T department had issued summons against Sarma regarding the suspicious transactions and his disproportionate assets on October 1. However, Sarma did not give a satisfactory reply.
The I-T officials from Ahmedabad and Vadodara swooped down at the residence of Sarma at the posh Four Seasons apartment in Piplod at about 12:30 am. A team of 36 officers led by a joint commissioner of I-T from Ahmedabad had joined the operation on Thursday.
Premises of a few prominent persons including realtors considered close to Sarma and his chartered accountant (CA), were searched by the I-T sleuths on Thursday.
Sources said that the I-T sleuths have recovered incriminating documents related to the properties and investment along with Rs 3.5 lakh cash and information on 10 bank lockers owned by Sarma and his family members.
Sources said that Sarma is earning Rs 1.5 lakh per month from Mumbai firm where he is posted as director and that he earned Rs 90 lakh as commission since 2011. Sarma is also a director in the city-based realty firm.