I-T raids carried out at 2 jewellers, departmental store owners’ premises in Ludhiana

The I-T teams, accompanied by police personnel, raided the owners’ stores and residential properties in Jalandhar and Ludhiana in the early hours; After word about the raids got out, panic gripped other jewellery store owners in Ghumar Mandi and Sarafa Bazar.

Suspecting tax evasion, the investigation wing of the income-tax (I-T) department carried out raids on the properties of two jewellers and the owners of a departmental store on Thursday.

Police personnel outside the Sardar Jewellers shop in Ghumar Mandi area in Ludhiana. The raids were carried out at Nikkamal Jewellers on the Mall Road, Sardar Jewellers in Ghumar Mandi and Mani Ram Balwant Rai Store near Pavilion Mall. (Gurpreet Singh/HT)

The raids were carried out at Nikkamal Jewellers on the Mall Road, Sardar Jewellers in Ghumar Mandi and Mani Ram Balwant Rai Store near Pavilion Mall. The I-T teams, accompanied by police personnel, raided the owners’ stores and residential properties in Jalandhar and Ludhiana in the early hours.

The raids were simultaneously carried out at around 20 properties registered to the three businesses, and the properties of around 80 officials. After word about the raids got out, panic gripped other jewellery store owners in Ghumar Mandi and Sarafa Bazar.

While no official statement was released by the I-Tdepartment, the raids continued into the evening. Officials, who did not wish to be named, said the I-T sleuths are going through the stock, and sale and purchase documents. Some records have been confiscated for further investigation. The record of properties owned by these firms is also being investigated. It is expected that the raids will continue over the next few days.

Staffers were seen asking customers to visit the store some other day.