Chandigarh: Tax evasion worth Rs 2.5 crore has come to light in the search and seizure operations that were carried out by the investigations wing of the Income Tax department on Wednesday across various business premises in the city, including Panchkula.
The amount is expected to increase manifold as the bank lockers of these business establishments are yet to be opened. “By going through the papers we seized yesterday from various business firms, tax evasion of more than Rs 2.5 crore has come to light up till now. We are yet to check the lockers of these firms and believe that unaccounted cash of these firms would increase by manifold,” told a senior I-T officer.
The investigation wing of the I-T had conducted search operations across various business firms in Sector 7, 8, 9, 15, 17 and 26, Manimajra and Panchkula, till the early hours of Thursday.
More than 60 I-T sleuths, who had been called especially from neighbouring states, were part of the operation. The bank lockers owned by these firms will be checked on Friday.
Source: ENS