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Taxmen seize Rs 13.5 cr cash from gutka owner
January 19, 2009 21:53 IST
In a major cash haul, Income Tax officials today seized Rs 13.5 crore during searches at the premises of a gutka manufacturer.
The IT sleuths searched as many as three premises of the manufacturer following allegations that his company had evaded tax to the tune of Rs 102 crore, sources in the IT department said.
More than 60 sleuths of the department searched the office and residential premises of the manufacturer, headquartered in Delhi [Images].
The searches are still on and the bank lockers and other assets of the firm will now be opened, they said.
The evasions are related to alleged undervaluations and underpayment of certain taxes including excise tax, the sources said.
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