Business Desk, Tech for FTCP, New Delhi
Updated Thu, 17 Sep 2020 04:19 PM IST
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In another case, the department also campaigned at a prominent jeweler in Srinagar. During the search, it was found that he did not maintain the account of the jewelery business, while the turnover of the business ranged from Rs 2 crore to Rs 10 crore.
The Dept also carried out searches in another case of a prominent jeweller in Srinagar. During search, it was found that he had not maintained books of accounts of jewelery business even though the turnover is of range of Rs 2 cr to Rs 10 cr in the earlier yrs: Finance Ministry https://t.co/jrukrjZNL9
– ANI (@ANI) September 17, 2020
Earlier in early September, the Income Tax Department raided three important traders in Srinagar and Kupwara districts on charges of cross-border trade with Pakistan last year.
In this context, the Central Board of Direct Taxes (CBDT) had said that 'prima facie unaccounted income earned by these three from these operations, uncollected assets and prosecution evidence and involvement in benami transactions have come to light. .