The Hindu : National : I-T sleuths search business premises

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Friday, Oct 12, 2007
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I-T sleuths search business premises

Special Correspondent

NEW DELHI: Officials of the Income Tax Department on Thursday conducted a search at the residential and business premises of the family members of a cricketer for alleged “unaccounted draft discounting.” The IT sleuths claimed to have recovered unaccounted assets.

Without naming the company, a Finance Ministry statement released here said: “The Income Tax department has conducted a search on a business family on the basis of information that it is involved in unaccounted draft discounting.”

The search was conducted at six business and residential premises of the family in Delhi and “inventorisation” of large stocks was in progress.

“Investments in various properties and bank accounts have come to light, which is being investigated,” the statement said.

According to sources in the department, the search included a garment factory.

Sleuths claimed to have “seized cash, jewellery and documents” at the premises in Delhi. Under the scanner are documents pertaining to the yearly transactions in garment business, the income and the amount paid as tax.

The official statement also made it clear that the search was concentrated only on the business interests of the cricketer’s family and that there was no search in respect of him.

Officials also conducted searches at a few business and residential premises of a city-based builder operating in Delhi and at neighbouring Gurgaon in Haryana and at Noida and Ghaziabad in Uttar Pradesh.

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