Excelsior Correspondent
JAMMU, Sept 7: Income Tax Department carried out surveys in the premises of two prominent jewellers of Jammu city throughout the day today and detected discrepancies aimed at avoiding the tax.
Official sources told EXCELSIOR that on the basis of reports prepared by the Assessing Officers, the top brass of Income Tax Department, J&K Circle gave nod for carrying out surveys in the premises of two prominent jewellers of Jammu Shankar Shah Jewellers and Rakesh Jewllers having business establishments at different places.
Following the approval, the different teams of IT sleuths started surveys in seven premises of both the prominent jewellers this morning under Section 133-A of the Income Tax Act, sources said, adding “during surveys continued till late tonight several discrepancies in the accounts books and the stock maintenance books were detected, which clearly established that both the jewellers were concealing income and evading tax”.
“The verification of the stock was going on in all the premises of both the jewellers till late tonight and the exact quantum of concealment and tax evasion would be worked out by tomorrow morning”, sources said, adding “senior officers of the Department were closely supervising the surveys in order to ensure that exact concealment and tax evasion is detected”.
It is pertinent to mention here that premises of both these jewellers were surveyed by the Income Tax Department a number of times in the past and every time huge amount was surrendered by them following detection of concealment and evasion.
This was for the first time since A K Thatai took over as Commissioner of Income Tax, J&K Circle that surveys were conducted to detect concealment and evasion.
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