In a tax evasion case, the Income Tax sleuths conducted search and seizure operations at three premises at Bokaro Steel City and detected undisclosed income worth over Rs65 lakh. Search and Survey operations were simultaneously launched at the three premises — Natkut Sweets, Natkut Furniture and Shankar Bhandar — which belong to a leading businessman Ram Babu last evening. It continued till next noon, IT sleuths informed.
Confirming about the tax evasion, N Murmu, Joint Commissioner, Income Tax Bokaro, said, “In prima facie, Rs45-50 lakh amount found undisclosed after the search and surveys operations.” “The explanation and reply of the proprietor about this tax evasion and undisclosed income are not satisfactory. However, we are still awaiting their reply. It is also found that instead of paying Rs20 lakh as tax, they paid only Rs3 lakh as tax in past,” added Murmu.
Huge number of documents, bank lockers, bank accounts, statements have been seized during night-long operations. Few documents reveal that their average income is Rs48,000 in every 4 hours, said Murmu, adding all will be examined by the IT officials. The entire operations were carried out by three teams of Income tax department officials of Bokaro.