LUDHIANA: Three real-estate tycoons from Ludhiana came beneath the scrutiny of the Income-Tax division as just about 150 sleuths of its investigation wing concurrently swopped down on 40 premises of the trio and their mates on Wednesday.
Strangely, simply after the IT raids, two persons whose premises were among the ones raids were allegedly hospitalised and their remark could not be recorded through IT division. The IT raids come with businessemen offices, homes in AC Market, Bhadaur House, BRS Nagar , Haibowal, Rajguru Nagar Market, Field Ganj and Jagraon.
According to a source, in IT division the three main businessmen had been beneath the dept’s radar over cash deposits of over Rs 18 crore at the time of demonetisation in November 2016.
The businessmen demolish old constructions and make new buildings of their place. They are into the business of commercial and housing projects in addition to running as a realstate dealer, the source added.
However, all properties being raided are related to the three businessmen and their mates which come with a number of belongings sellers, deed writers and many others who have business dealings with them.
Given their scale, the raids are anticipated to continue with same vigour. “Lot of incriminating paperwork pointing against sales of properties in black too were found," mentioned a source.
Strangely, simply after the IT raids, two persons whose premises were among the ones raids were allegedly hospitalised and their remark could not be recorded through IT division. The IT raids come with businessemen offices, homes in AC Market, Bhadaur House, BRS Nagar , Haibowal, Rajguru Nagar Market, Field Ganj and Jagraon.
According to a source, in IT division the three main businessmen had been beneath the dept’s radar over cash deposits of over Rs 18 crore at the time of demonetisation in November 2016.
The businessmen demolish old constructions and make new buildings of their place. They are into the business of commercial and housing projects in addition to running as a realstate dealer, the source added.
However, all properties being raided are related to the three businessmen and their mates which come with a number of belongings sellers, deed writers and many others who have business dealings with them.
Given their scale, the raids are anticipated to continue with same vigour. “Lot of incriminating paperwork pointing against sales of properties in black too were found," mentioned a source.
Two Ludhiana bizmen hospitalised after IT raids
![Two Ludhiana bizmen hospitalised after IT raids]()
Reviewed by Kailash
on
November 29, 2018
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