Income tax officials raid leading manufacturer of tobacco

Kolkata, Nov 29 (UNI) Income Tax sleuths conducted search and seizure operation on a leading manufacturer and trader of readymade tobacco in the country.

The group has also recently diversified into other areas of business such as manufacture of biscuits and edible oil. The operation was simultaneously carried out in different cities under the coordination of the Directorate of Investigation, Kolkata, Residences of the Directors of the said company were also searched.

The search was initiated due to the allegations of tax evasion on the group. During the course of search, cash of Rs 106 lakhs was seized. Incriminating papers pertaining to suppression of production and sale and documents pertaining to various investments were found. The group has made voluntary disclosure of unaccounted Income to the tune of Rs 35 crores.

Further investigations are in progress.

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