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I-T dept seizes unaccounted Rs 1 cr from Ludhiana pharma firm

In Ludhiana, Leeford Healthcare, Vasu Multi Metal Pvt Ltd and Pooja Overseas were raided. Fakir Chand & Sons and a Pathological scan centre were raided in Moga.

punjab Updated: Mar 23, 2018 12:31 IST
HT Correspondent
HT Correspondent
Hindustan Times, Ludhiana
I-T dept,Income tax dept,unaccounted cash
“Huge cash was recovered from Leeford Health Care in Ludhiana,” an I-T officer said.(Representative image )

The income tax department conducted raids at seven locations in Ludhiana, Moga and Patiala late Thursday evening and seized unaccounted Rs 1 crore in cash from a pharmaceutical firm.

A senior officer privy to the operation said five locations were raided in Ludhiana and one each in Patiala and Moga. “A textile manufacturing, chemical manufacturing unit and a healthcare centre were among those raided. The raids have been conducted as the department was tipped of unaccounted cash, Goods and Service Tax (GST) evasion, suppression of profit and cash deposits,” said the officer who wished to stay anonymous.

In Ludhiana, Leeford Healthcare, Vasu Multi Metal Pvt Ltd and Pooja Overseas were raided. Fakir Chand & Sons and a Pathological scan centre were raided in Moga.

“Huge cash was recovered from Leeford Health Care in Ludhiana,” said the officer. Last week, the I-T department chief commissioner had warned the tax defaulters to comply with tax laws or face the music. “The surveys will increase in the next few days,” he had said during a media interaction. The raids were going on by the time of filing of the report.

First Published: Mar 23, 2018 12:26 IST