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| IT raids on multi-brand 'Monalisa' garments showrooms | | | Early Times Report
Jammu, Aug 10: Income Tax (IT) sleuths conducted a series of raids at one of the oldest city based multi-brand readymade garments showrooms- Monalisa.
According to sources, the two showrooms located at Raghunath Bazaar and Gandhi Nagar areas in the city were raided simultaneously after IT department got specific information regarding tax evasion worth several lakhs by the proprietors of Monalisa viz a viz making bogus investments through sister concerns.
Official sources said searches were carried out at "Monalisa" having two stores dealing primarily in readymade garments in Ragunath Bazaar and Gandhi Nagar localities, owned by Vinod Sachdeva.
Sources revealed that simultaneous raid was also conducted in a Bari Brahmana based factory of Monalisa.
A team of fourteen Income Tax sleuths were making searches in factory till late hours, sources said while a team of income tax sleuths headed by DC IT was making search in Ragunath Bazaar and Gandhi Nagar based showrooms.
The sources said all the branches of the department stores in the winter capital were covered during the search operations. Informed sources said during raids sleuths had found documents indicating investment in properties and allegedly unaccounted fixed deposits.
The sources alleged that an undisclosed investment of crores had been made by Monalisa stores in one of its showroom in Gandhi Nagar. A restraint order under 132 (3) had been placed at all godowns and bank lockers of the two showrooms, the sources said adding that cash worth lakhs had been seized so far.
Confirming the reports, an income tax officer, when contacted said that they had seized some documents indicating movable and immovable property of Sachdevas. He said that the raids are to be remained continued in the days to come. Meanwhile, the sources said, the income tax department had instructed all banks from issuing any duplicate locker keys to the owners or directors of the department stores as the taxmen had so far recovered only 10 out of 28 keys.
Further details were awaited as the search was still going on and the taxmen were making inventories of the seizure for the premises searched so far.
The stores employees, however, accused the department of using a "ploy" to tarnish the image of one of the famous readymade garments showrooms of the city while none from the owners' side was available for any comment.
"Monalisa is a brand in itself, customers over the years have preferred this outlet but persons with vested interests who could not tolerate our popularity are trying to defame us," said an employee on condition of anonymity. |
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