Undisclosed income of Rs 75 Crore found in IT raid | Proprietor hospitalised

Undisclosed income of Rs 75 Crore found in IT raid | Proprietor hospitalised

Four day income tax raid at the Chamunda Wine group has revealed an undisclosed income of Rs 75 Crores. This was revealed by the income tax officals after an intensive search operation that was carried out in Udaipur, Rajsamand, Sirohi and Jaipur offices of the group.

 

Undisclosed income of Rs 75 Crore found in IT raid | Proprietor hospitalised

Four day income tax raid at the Chamunda Wine group has revealed an undisclosed income of Rs 75 Crores. This was revealed by the income tax officals after an intensive search operation that was carried out in Udaipur, Rajsamand, Sirohi and Jaipur offices of the group.

The officials informed that they have recovered Rs 1 Crore in cash and over Rs 2 Crore in Gold and Silver ornaments. The proprietor of Chamunda Wine group was admitted to an hospital after he complained of uneasiness and health issues. The investigators have stalled his interrogation given his health condition and the same will resume post his discharge.

20 teams had carried out the search operation under the guidance of Additional Director M.Raghurajan. Four day search operation also extended to the firm’s CA office and the team had taken over 1000 documents from the CA office for investigation purpose.

Readers may note that the CA community had strongly opposed the raid at the firm’s CA office and have called for a boycott from work till 31 March.

The IT team is also investigating accusations against the proprietor of trying to convert black money to white money during the demonetisaton period by depositing cash in banks.

To join us on Facebook Click Here and Subscribe to UdaipurTimes Broadcast channels on   GoogleNews |  WhatsApp |  Telegram |  Signal