Three months after the high-profile raid at multiple locations by the Income Tax (I-T) sleuths at business premises and residence of liquor baron and a leading businessman of UP Ponty Chadha, the latter has reported an ‘undisclosed income’ of Rs 175 crore and paid R54 crore as tax to the I-T department.
“Ponty Chadha's group has admitted an undisclosed income of Rs 175 crore and has paid Rs 54 crore as tax,” an I-T official said.
The I-T officials conducted a series of search operations at 25 locations in Delhi, NCR and Uttar Pradesh, including Centre Stage Mall and multiplexes at Noida on February 1.
Following the searches, the I-T department claimed to have seized Rs 5 crore in cash, jewellery worth R10 crore, temporary vouchers related to real estate and liquour transactions and several documents.
Chadha's 11 bank accounts were sealed and prohibitory orders were issued.