Income tax department sleuths detected unaccounted cash worth over Rs 8 crore during the survey carried out on three business establishments in Chandigarh. Survey started on Thursday completed on Friday afternoon.
Income tax sleuths carried out the survey in the premises of Compact Disc (CD) India Limited, Manimajra, office of A-I Meters Private Limited, Industrial Area at Chandigarh and factory at Derabassi, and a Sector 22-based shop. During the survey, officials found irregularities in the cash books, stocks and unaccounted excess cash, said sources in the income tax department.
Official sources said that Compact Disc (CD) India Limited, Manimajra, is into the business of music and animation and survey revealed excess cash worth Rs 5 crore. It was also found that company directors given unaccounted advances, sources added.
On the premises of A-I Meters Private Limited, Industrial Area at Chandigarh and its factory at Derabassi, IT officials found unaccounted cash worth Rs 2.25 crore besides unaccounted raw material, sources added.
Irregularities were also detected in the survey conducted at a shop in Sector 22. IT sleuths found that shop owner had failed to maintain the stocks properly. Survey was conducted by Ajay Kumar Sharma, additional commissioner of income tax under the supervision of GS Randhawa Commissioner Income Tax-I.
Well done ! By unearthing the black money Govt. may achieve its budget target.
I congratualate Income Tax officials who dare to do this job as a part of their duty.. We must take this news very serious as it can be the seen part of iceburg. If such serveys conducted in various metropoloies, many cases can be traced out. It also indicate that our society doesnot take it serious as every body try to avoid to pay tax. This process will continue till tax payer feel that is did well in paying tax instead of avoiding it.