| Officials of the Investigation Wing of the Income-tax department, Kolkata, in a search and seizure operation carried out recently on one of the leading manufacturers of shoes and Hawai chappals in the city, have unearthed cash of Rs 62 lakh and jewellery worth Rs 42 lakh.
The department, according to an official release here today, has also searched residences of the company directors. I-T sources revealed that the search action was initiated on the basis of various allegations of tax evasion levelled against this business group, which has a manufacturing set-up in the city.
The company's Hawai chappal brand is well known in the market. It is learnt that incriminating papers relating to unaccounted cash payments of several crores of rupees towards purchase of showrooms at different locations were also seized. Further investigations are said to be in progress.
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