I-T department conducts surveys against 2 business houses of Kashmir

"The surveys are being conducted on charges of tax evasion and the business premises of the assessees are being visited," a senior official said.

SUMIR KAUL
New Delhi, Publish Date: Oct 12 2018 12:20AM | Updated Date: Oct 12 2018 12:20AM
I-T department conducts surveys against 2 business houses of KashmirRepresentational Pic

Income Tax Department Thursday carried out surveys against two business houses in the militancy-hit areas of the Kashmir for alleged tax evasion running into crores of rupees, officials said.

They said tax sleuths from income tax offices in Chandigarh and Rajasthan were flown in here for carrying out the surprise checks, an exercise undertaken in Kashmir first time in 16 years.

About eight premises, including godowns, of the two companies were searched at Pampore and Pulwama in southern Kashmir and in the state capital here. 

"The surveys are being conducted on charges of tax evasion and the business premises of the assessees are being visited," a senior official said.

The income tax teams were assisted by the CRPF for ensuring the security of the team.

The first company that was surveyed has been in the manufacturing of electric poles and iron structures, and is being investigated for alleged "round tripping of funds" to the tune of Rs 10 crore – Rs 11 crore as the same was not reflected in their account books, the officials said.

The second operation was carried out against a real estate company that is also into hotel business. 

The company is alleged to have made "unaccounted transactions for sale of immovable properties to the tune of Rs 10 crore", they said.

The officials of the two business houses were also briefly quizzed by the tax officials, they said. 

 

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