The Income Tax (I-T) department sleuths conducted simultaneous raids on 45 sugar mills spread in 17 places across the country on Wednesday. The I-T department cracked the whip following a recent Headlines Today report that showed how sugar mills were illegally raking in profit by artificially jacking up prices.
Some of the biggest sugar mills of the country have thus come under the I-T scanner. The mills which have been raided include Triveni and Uttam Sugar in Uttar Pradesh.
The Central Board of Direct Taxes (CBDT) had commissioned a probe into the spiralling sugar prices following the Headlines Today report. The agency had also procured the details of the investigation done by Headlines Today, including the documents and CDs.
The sugar lobby had imported massive quantities of sugar only to hoard them in their stores. As prices went up sharply in the market, the sugar mill owners had incurred massive profit.
Agriculture Minister Sharad Pawar had drawn flak for the price rise.
Source: India Today