IT raid 18 places in the city

Mumbai, Mar 17 (UNI) Income Tax department today conducted raids at the official premises of share brokers, builders and paper manufacturer at 18 places in the city and at 40 places across Maharashtra, official sources said.

Income Tax official sources said oficers conducted searches at the official premises of share brokers, builders and manufacturer to check the documents pertaining to possible tax evasions.

The search operation was continued till late in the evening, the sources added.

Leading stock brokers were booked for purchase and sale of penny stocks to book artificial long term gain, the sources said.

Stock markets dipped in the closing hours as the news of raids on brokers trickled in.

The Bombay Stock Exchange closed with a loss of 19 points at 10,860 points after trading with gains for the greater part of the day.

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