I-T raids find Rs 15-cr tax evasion in Saurashtra

by Shobha November 9, 2009 0 Comment

The Income Tax Department in Saurashtra-Kutch has come across tax evasion to the tune of Rs 15 crore in raids at the premises of two builders,in the last three days. Inquiries at the two real estate development firms Amibhara Builders (Rajkot) and Katira Builders (Kutch) that began around Friday led to the huge disclosure. I-T Department sources said that by Saturday evening,a total disclosure to the tune of Rs 15 crore had been made.

The Rajkot wing I-T team led by Assistant Commissioner R K Bhut supervised the documents of Katira Builders for two days. Different teams had sealed four premises of the group including a hotel. The group has reportedly made a disclosure of a whopping Rs 12 crore. In a similar exercise,teams led by Additional Commissioner Sunil Jha conducted raids at the various premises of Amidhar Builders,who are coming up with a construction project of 250 luxurious bungalows on the outskirts of Rajkot city. The I-T Department said the owner of Amibhara Builders,Jitu Belani,and his associates,including structural engineer Ashwin Lodhiya,have made a disclosure of over Rs 3 crore.

Read full article: Indian Express

I-T raids find Rs 15-cr tax evasion in Saurashtra

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I-T raids find Rs 15-cr tax evasion in Saurashtra

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