Income Tax Dept. raids Indore businessmen, detects tax evasion of Rs 21 cr

The sleuths of Income Tax Commissionerate have detected an income-tax evasion of over Rs 21 crore after they conducted raids at the premises of prominent city-based businessmen, including jewellery showrooms, a Press Information Bureau official said today.

Ten teams of the I-T officials yesterday evening began conducting searches at the commercial premises of two businessmen, who own food stores in the city, besides at four jewellery showrooms and unearthed income-tax evasion of about Rs 21.02 crore, the official said.

The two owners of the food stores agreed to surrender the tax to the tune of Rs 4 crore and Rs 1.10 crore respectively, he said.

Similarly, the four jewellery showrooms namely Sajjanlal, Ashok Kumar, ICR Bullion and Harshvardhan too would pay the tax to the tune of Rs 16 crore, the official added.

Source- PTI

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