I-T dept conducts more surveys, jewellers surrender Rs 11.5 crore

The Income Tax department, on Wednesday, conducted fresh surveys on KW engineering, KP industry, Kiston industries and crystal electrical private limited — all located in focal point and are auto parts and forging units.

The surveys were conducted under the supervision of income tax commissioner Kuldeep Singh. The investigations were on till the time of filing this report.

In an income tax raid conducted on Palace jewellers two days ago, a total of Rs 11.5 crore has been surrendered to the department out of which Rs 3.5 crores was surrendered by Palace jewellers while Rs 8 crore by Palace jewellers private limited.

In addition to this Rs 80 lakh was surrendered by Mamta Shawls group where an income tax survey was recently conducted.

On Tuesday, income tax teams had also conducted surveys on Fastway TV channel and Jhujar transport company.

The team continued investigations the whole night and came back on Wednesday morning. Sources revealed that they have impounded the account books of the companies and are investigating the papers.

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