Bengaluru: Principal Chief Commissioner of I-T Nutan Wodeyar on Wednesday said in four to five searches conducted by the department so far has seized Rs 48 crore worth undisclosed assets across Karnataka and Goa, following the announcement of demonetisation move by Prime Minister Narendra Modi.

“We have seized an undisclosed amount of Rs 34 crores in cash and Rs 14 crores in bullion, and out of which seized Rs 22 crores new currency notes, post-demonetisation” she told reporters here.

Giving figures of seizures made this year so far, Wodeyar said the department conducted 48 searches and seized Rs 116 crores worth undisclosed assets compared to 27 crores during the corresponding period of the last year. “As many as 48 searches we have conducted this year compared to 14 during the corresponding period last year. The total seizure is Rs 116 crores compared to Rs 27 crores last year,” she said adding, “The disclosure made in the searches by the assesses is 3,265 compared to 876 last year.”

The department also conducted 36 surveys as of today compared to 38 last year and found a concealment amount of Rs 393 crores compared to Rs 140 crores during the period of last year.

Replying to a query, Wodeyar said the department so far has initiated 15 prosecutions and expect the numbers to go up. She, however, declined to reveal the names of those facing prosecution.