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Raids detect tax evasion of Rs 7.15 crore
February, 20th 2010

Following the assessment of commercial establishments conducted on Thursday, income tax department found evasion of around Rs 7.15 crore. Officials had seized the documents from the complexes and found the traders guilty of tax evasion.

The officials said Rs 3.20 crore was the undisclosed property of Dr Balwinder Walia, Rs 80 lakh of Khushi Ram, around 20 lakh of Dr Parminder Singhs clinic, Rs 90 lakh of Raghav Hosiery, Rs 1.10 crore of Khanna Knitwears and Rs 80 lakh was the undisclosed property of Rana Chawla.

Additional commissioner of income tax department KJ Singh said the survey helped them uncover undeclared assets of around Rs 7.15 crore.

In another development, Direct Investigation wing conducted a raid on the premises of Kangaroo Group of Companies located at Focal Point and industrial area. Over 100 officials were still carrying on the raid and so refused to divulge any figures, sources added.

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