AHMEDABAD:
The investigation wing of the Income Tax department on Thursday carried
out searches at the premises of 4-5 stock brokers in various parts of
the city. The searches were conducted on 6-7 premises at Panjrapole, SG
road and Panchvati, among others.
The offices of stock brokers
who are involved in online trading were searched. According to sources,
some of the stock brokers are also chartered accountants (CAs) and were
involved in manipulation of shares.
In the first week of
December, I-T officials had carried out raids at 41 premises of builders
and stock brokers, including 25 in Ahmedabad, seven in Surat and two in
Jamnagar. The officials had seized 20 bank lockers, several documents
and Rs 2 crore in cash from stock broker Raju (Barter) Shah and other
brokers.
Sources said that I-T officials had found strong
evidences of manipulation in share market during the searches two weeks
back and the searches carried on Thursday were in continuation of that.
"Earlier, the raids and searches were limited to real estate and
bullion sector but now we are looking into the tax evaders of other
sectors as well. The stock brokers are one such lot who have earlier
escaped our scrutiny," said a senior I-T official.
I-T
officials also recovered unaccounted income to the tune of Rs 6 crore
from a real estate developer in Surat during Thursday operation.
In the last fortnight, the real estate developers in different parts of
Surat have been on the target of the I-T department for large-scale tax
evasion. Unaccounted income worth around Rs 20 crore has already been
unearthed from more than half a dozen realtors.
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