Early Times Report
Jammu, Sept 19: Kawality Group coughed up Rs one crore and five lakh while scrutiny of the documents seized from Bikano group was in progress by Income Tax sleuths, following IT surveys on two noted business establishments of city on Wednesday.
A fortnight when Income Tax (IT) Department collected record tax worth crores from the jewelers, the department continuing to tighten its noose on the noted tax evaders in this winter capital of the state conducted surprise surveys in several premises of Kawality and Bikano Groups in Jammu city on Wednesday.
As per official sources, the team of Income Tax Department headed by Joint Commissioner, IT Department, J&K Circle K K Kakkar surveyed Ajay Trading and Krishna Trading Companies, Sahyog Resorts, Bikano Fast Food and Jagat resort etc and scrutiny of documents related to moveable and immovable properties etc continued till late night. Sources today added that Kawality Group has surrendered Rs 1.05 Crore as undisclosed income to the IT department while scrutiny of documents seized from the two business houses is still on.
Confirming surprise surveys against two business groups in Jammu city, Income Tax Commissioner, J&K Circle, A K Thatai said, "We had already warned that after monitoring September 15 Advance Tax installment the Department will decide its future course of action." He, however, refused to divulge details about the outcome of surveys saying the scrutiny of the documents is on.
Pertinently, some of the Jammu based jewelers had surrendered Rs 24 crore tax to the Income Tax department on Sept 5. "Besides surrendering Rs 24 crore of undisclosed income by five of seven, the IT sleuths also seized Rs 1.25 lakh cash and Rs 50 lakh worth jewelry during Sept 5 raids", sources said.
As per officials this was the highest ever surrender made during the raids of the Income Tax Department's Investigation Wing earlier April 2011 such raids had yielded Rs 16.5 crore undisclosed income. |
