Income tax dept raids Mandi Gobindgarh industries | punjab$patiala | Hindustan Times
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Income tax dept raids Mandi Gobindgarh industries

Over 100 income tax officials descended in on the city on Friday night, as the premises of the leading steel maker in the region — the Ambica Group was raided by the department.

punjab Updated: Oct 10, 2015 20:34 IST
HT Correspondent
After and during the operation, owners of the industrial groups voluntarily disclosed unaccounted income of Rs 7.25 crore.
After and during the operation, owners of the industrial groups voluntarily disclosed unaccounted income of Rs 7.25 crore. (Livemint Photo)

Over 100 income tax officials descended in on the city on Friday night, as the premises of the leading steel maker in the region — the Ambica Group was raided by the department. In addition to the group, premises of the Samana Ispat Pvt Ltd, Krishna Steel Rolling Mill and Sher-e-Punjab Steel and Agro Industry were also raided. The special income tax department operation lasted till Saturday morning.

After and during the operation, owners of the industrial groups voluntarily disclosed unaccounted income of Rs 7.25 crore.

The operations were carried on the directions of principal commissioner Jagtar Singh under the supervision of additional commissioner of the income tax department, Harjinder Singh. During the raid, account books, stocks and other financial transactions of the industrial units were examined.