Patna. The Income Tax team simultaneously raided a dozen locations of a famous jewelery group in five cities of the country. From Tuesday morning itself, apart from Patna, the team started investigation at other places including their jewelery shops in Varanasi, Lucknow, Allahabad and Gorakhpur of UP. The locations of two other jewelery establishments linked to a famous jewelery brand of the country were also raided. There is a big famous jewelery shop of the country in Varanasi.
Raids conducted at three places in Patna
Apart from these three jewelery shops, the houses and warehouses of their owners were also raided in Bakarganj, Patna. Its owner Rajesh Verma is four brothers and collectively they run all the jewelery establishments. Unconfirmed information is also being received about a raid on one of their hideouts in Delhi. A survey was conducted on their establishments by the Income Tax Department about one and a half years ago. During that time too, tax irregularities worth crores were detected.
Returns shown are less than actual returns
According to Income Tax Department sources, tax evasion worth crores of rupees has been detected in the investigation. However, only after the investigation is completed it will be clear how much tax has been falsified. Evidence has also been found of filing income tax returns less than the annual income. Apart from this, apart from buying and selling of jewelery without bills, it has been found that the quantity of other goods including gold and silver recorded in the stock register is in reality much more than this.
Gold bricks or biscuits were sold in large numbers
A lot of evidence has been found of buying and selling of gold and jewelery made from it from one state to another without paying tax and showing it on paper. Apart from jewellery, a large number of gold bricks or biscuits have been sold without receipt or on raw receipt. After this raid in the shops of a famous jewelery brand of the country, there is panic among the bullion traders during the festive season.