According to the media reports, today the Income Tax department found currency notes worth Rs. 100 crore in the basement of the Centrestage Mall in Noida, which is owned by Uttar Pradesh liquor baron and businessman Ponty Chadha. The raids are still on and more money is expected to be recovered.
The Income Tax department raided the premises of Chadha on Wednesday in UP and at locations in Delhi in connection with the alleged tax evasions.
The searches in Delhi were conducted at 13 locations including at the Posh Sainik Farms and Lajpat Nagar, while in UP, Income Tax team comprising of 200 officials, undertook similar operations at six locations in Noida, Moradabad and Lucknow.
According to the Income Tax sources, Chadha is currently in Dubai attending a family function.
The sources said that the searches which began at around 10:30 a.m in the morning were initiated after the department got inputs regarding alleged tax evasion by firms associated with him.
Accoding to the sources, even the department were also looking at the possibility of illegal sale of liquor by certain firms in the run up to the UP assembly polls.
IT officials also searched the properties of two of his associates namely Lalit Kapoor and Gurjeet Kochhar in Delhi and is expected to question them about certain transactions.
The searches were condcuted by Delhi based Criminal investigation Team Unit of the Department and according to the sources, the searches were related to the alleged mis-pricing of the huge liquor consignments in the state and other places.
They said that the department conducted the operation after gathering intelligence and other inputs about Chadha and his business in the last four months.
Reported by
AR
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