LUDHIANA: In a crackdown in opposition to tax violations, Ludhiana-based primary directorate of source of revenue tax (investigation) Punjab and J&Okay seized Rs 6 crores in money and 10 lockers on Wednesday after it raided 30 premises in Amritsar, Surat and Guwahati.
It is without doubt one of the largest a variety of money seized since demonetization within the region, and in line with assets within the department, it's most likely that the extra money will likely be recovered in coming days. The raids have been conducted upon explicit input gained by means of the department about stashing of black cash and benami assets by means of the homeowners of those premises which belong to 4 prominent Amritsar-based businessmen.
Those raided are into business of textiles, coal and real property and a patwari who is said to be their affiliate having helped them purchase benami properties and invest black cash.
According to assets within the department, the businessmen are accused of fudging accounts, unaccounted money purchases and unaccounted funding in real property sector. Sources claimed that along with unearthing Rs 6 crores money, the department has also discovered considerable evidence of land offers and black cash.
The raid which began on Wednesday morning is prone to continue for some other two or 3 days. However, I-T officers are tight-lipped over all the operation and refused to speak about the raids. Meanwhile, it's learnt that as the news of raids at the groups spread, panic gripped the businessmen who deal with those groups.
It is without doubt one of the largest a variety of money seized since demonetization within the region, and in line with assets within the department, it's most likely that the extra money will likely be recovered in coming days. The raids have been conducted upon explicit input gained by means of the department about stashing of black cash and benami assets by means of the homeowners of those premises which belong to 4 prominent Amritsar-based businessmen.
Those raided are into business of textiles, coal and real property and a patwari who is said to be their affiliate having helped them purchase benami properties and invest black cash.
According to assets within the department, the businessmen are accused of fudging accounts, unaccounted money purchases and unaccounted funding in real property sector. Sources claimed that along with unearthing Rs 6 crores money, the department has also discovered considerable evidence of land offers and black cash.
The raid which began on Wednesday morning is prone to continue for some other two or 3 days. However, I-T officers are tight-lipped over all the operation and refused to speak about the raids. Meanwhile, it's learnt that as the news of raids at the groups spread, panic gripped the businessmen who deal with those groups.
Rs 6 crore cash, 10 lockers seized in I-T raids on 30 premises
![Rs 6 crore cash, 10 lockers seized in I-T raids on 30 premises]()
Reviewed by Kailash
on
June 14, 2018
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