IT raids on gutkha companies

Jan 22, 2011 |

Correspondent

The Income-Tax department on Friday raided business establishments and residences of prominent pan masala and gutkha manufacturers in 14 states. The raids were conducted on 69 premises related with manufacturers of the tobacco products, sources said. “The raids and survey were conducted by over 1,000 tax officials and security personnel,” they added. The raids comes a day after, the department said it has recovered `44.2 crore of unaccounted money from three Delhi-based traders. It was the largest ever cash haul of unaccounted money by the department, the Central Board of Direct Taxes said. The traders have admitted of tax evasion of `150 crore, it said.

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