Income Tax India conducts search and seizure operation in Jammu and Kashmir

Income Tax India conducts search and seizure operation in Jammu and Kashmir

During the search operation, incriminating documents, hand written diaries, and digital devices have been seized. Variation in stock has also been noticed in the various factories and retail outlets.

Investigations so far made, has shown that the some groups has been suppressing its taxable income by grossly under-reporting its sales in the cement sector by more than Rs. 60 crore over the past several years. Similarly, evidence of undisclosed sales in the books of account exceeding Rs. 50 crore in textile and plywood sectors has also been found