I-T department claims multi-crore tax evasion after raids on Gujarat diamond group
The Hindu
Raid teams have seized paper as well as digital data, kept at secret locations under the custody of its trusted employees, that includes proof of ‘unaccounted’ purchases and sales.
The Central Board of Direct Taxes (CBDT) on Saturday said the Income Tax Department has detected tax evasion worth crores of rupees in raids on a leading diamond manufacturer and exporter of Gujarat.
The searches were launched on September 22 at 23 premises of the group, which is also in tiles manufacturing business, at Surat, Navsari, Morbi and Wankaner (Morbi) in Gujarat and Mumbai in Maharashtra.
The raids are still underway, it said.
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