The sleuths of income tax department comprising a team of 65 – 70 department officials on Monday carried out simultaneous surveys at the premises of as many as three business establishments in the city. During the survey which continued till filing this report, the department officials stumbled upon various incriminating documents showing tax evasion and income disproportionate to their known sources of income.
The surveys were carried out to find out the component of unaccounted stocks, receipts, investments as well as expenditures which have not been disclosed to the department in the Returns filed by these establishments.
These establishments have been covered as the income declared by them along with their business receipts were found to be miniscule to their actual operations carried out in Indore and as per the enquiries made by the department from its own sources before embarking upon said action in these cases.
The business establishments which were surveyed by the department include M/s Sailors Export Pvt. ltd., Chhawani and at Patthar Mundala Road, Palda, Indore, Kohinoor Elastic Pvt. ltd. at Pologround, Indore and M/s Suman Phosphate and Chemicals ltd. at M.G. Road, Indore.
M/s Sailors Exports Pvt ltd is processors, suppliers and exporters of pulses & spices and trading in commodities, while Kohinoor Elastic Pvt ltd is manufacturer of elastic taps.
The details of surveys were still awaited as it continued till filing this report, department sources informed.
During the survey which continued till filing this report, the department officials stumbled upon various incriminating documents showing tax evasion and income disproportionate to their known sources of income.