Assets Over Rs. 1 Billion Detected During IT Raids
Patna: Mar. 15, 2007Income Tax officials, on Thursday, raided four business establishments and residences owned by one of the most prominent jeweler’s family in Patna and Patna City and unearthed a combined assets of Rs. 1,000 crore including Rs. 40 lakh in cash, 13 lockers, and 26 bank accounts that were immediately sealed until further investigation. The raids were conducted simultaneously at the group’s showrooms on Boring Road crossing, Sumati Palace, Ashok Rajpath, and Hathua Market and their palatial residences on Boring Road and Patna City during which large amount of cash, unaccounted jewelries valued at several crore rupees, bank accounts, bank lockers, and Reserve Bank of India gold bonds were recovered, Income Tax official S. D. Jha said. The investigators recovered Rs. 17 lakh in cash from the shop of the eldest brother in the family, Rs. 2 lakh from the second brother, Rs. 18 lakh from the third brother, and Rs. 1.5 lakh from the fourth brother besides documents revealing information about bank lockers and accounts, Jha said. “It will take several days before the actual extent of tax evasion is determined,” he said.– Disclaimer: The mail is general information and may be the compilation of statutes, circulars, notifications and case laws. Care has been taken to make the contents of this mail error free. However, we expressly disclaim all liability of whatsoever. Information are purely an opinion and in any case it should not be construed as statement of law, and always referred relevant the Act & Rule in this regards. Since, the contents in this mail are dynamic in nature, members are advised to go in for periodical updates in their own interest. To subscribe the group send mail to aaykarbhavan- subscribe at yahoogroups. com Tags:ASSETS BLOGS commonwealthtv.tv FORTUNES INDIA INTERNATIONAL NEWS Internet MONEY ONLINE positive thinking mind POWER POLITICS Rs. 1 Billion WEALTH WORLD AFFAIRS YAHOOGROUPS NEWS |
