JAMMU, Aug 21: Income Tax Department today conducted surveys in the premises of two groups in Kathua and laid hands on several documents establishing concealment of income.
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Official sources told EXCELSIOR that on the basis of inputs received from certain quarters, the sleuths of Income Tax Department surveyed premises of Sangam Automobiles and Excellent Concerns—a coaching institute.
In the process, they impounded several documents establishing concealment of income and subsequent investments. “These groups were showing less income in the returns despite having made huge investments”, sources added.
“The exact quantum of tax evasion will be worked out after detailed scrutiny of the impounded documents and valuation of the buildings”, they said.