In a tax raid, 150 crore was discovered at the home of a UP businessman.

The Income Tax Department raided the premises of perfume producer Piyush Jain and discovered so much cash that inspectors are still counting the notes a day later. The I-T raids are taking place at the perfume trader's home, factory, office, cold store, and petrol pump in Kanpur, Uttar Pradesh, as well as in Mumbai and Gujarat.

I-T department sources stated Rs 150 crore in cash has been collected so far, according to reports. The shelves of two iron closets were loaded with bundles of cash, according to photos from the raid.

Two mountains of cash were piled into two big wardrobes at Mr Jain's home, according to photos from the operation. Paper covers were used to wrap the bundles and yellow tape was used to attach them. There are about 30 such bundles seen in each photo.

Raids on numerous locations in Uttar Pradesh, Gujarat, and Mumbai began on Thursday at a plant owned by M/s Trimurti Fragrances in Kanpur, Uttar Pradesh, which produces the Shikhar brand of pan masala and other scented tobacco products.

Raids were also conducted out at the offices and godowns of a carrier, M/s Ganpati Road Carriers, which is also based in Kanpur before the action turned to Piyush Jain's location.

"The residential properties of partners of M/s Odochem Industries... who were supplying fragrance chemicals... were also searched based on intelligence inputs," the GST department said in a statement.

"Huge sums of cash, wrapped in paper, were discovered during the investigation of the residential premises. The counting of currency has begun with the assistance of officials from the State Bank of India (Kanpur), and it is expected to last until the evening of December 24" according to the statement.