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| Gopal Krishan Singhla surrenders undisclosed income | | |
JAMMU | May 1
Gopal Krishan Singhla a patner in New Kashmir Steel Rolling Mill today surrendered in front of Income Tax officials with rupees 25 lakh undisclosed income.
The sleuths of Income Tax (IT) investigation wing few days back carried out a raid in the abandoned residence of the during which some gold jewellery, cash amount and incriminating documents were seized. Reports said Singhla was also business partner of Joginder Paul the owner of Jai Steel Industry in Mandi Gobind Garh in Punjab who also surrendered yesterday with 2.5 crore cash in front of the Income Tax. Sources said the IT authorities are expecting some more surrenders of unaccounted wealth from Jammu based businessman.
As many as 25 premises of half a dozen businessmen were raided by the Income Tax on April 19 and several documents pertaining to huge tax evasion were ceased during the raids. Raids were conducted at the premises of the businessmen in Jammu, Kishtwar and Mandi Govind Garh, Punjab.
Meanwhile, IT sleuths today studied all the documents seized during yesterday’s raids. As per official sources, the verification of documents has proved that all the businessmen whose residential and officials premises were raided yesterday had evaded over crores of rupees. And it is expected that figure may touch the mark of 25 crore after the completion of verification. According to sources, IT team has also scanned the details of the bank accounts and lockers of these businessmen.
The official premises of these businessmen have been seized and will remain so till the completion of the enquiry process.
With the surrender of Rs 25 lakh of unaccounted money by the steel businessman Gopal Krishan Singhla, the total surrendered amount during the whole process has risen to Rs. 9.50 crore.
When contacted, Director General Investigation Wing IT Deptt V D S Balihara confirmed the development He said records were subjected to thorough verification and results are expected to come out after the completion of the process. He expressed satisfaction over the successful conduct of the raids. “Department will not spare any one indulging in tax evasion. We have been time and again advising the people to disclose exact income and pay tax accordingly”, he added.
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