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IT raids in city trader�s establishments

By Staff Reporter
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GUWAHATI, Dec 6 � Sleuths of the Income Tax Department today conducted simultaneous raids in a number of establishments of Guwahati-based businessman Ratan Sarma in Assam and other parts of the North East.

Raids were conducted in Guwahati, Arunachal Pradesh (Banderdewa), Imphal and Meghalaya since early this morning and is likely to continue till tomorrow.

In Guwahati itself, searches were conducted in 13 locations belonging to Sarma including Hotel Belle Vue in Kharghuli, Spring Valley Resorts in Sonapur and offices of TMT bar office in Fatasil Ambari beside a number of business establishments under Satyam group.

The sleuths also sealed a number of rooms of Hotel Belle Vue which was undergoing renovation.

According to IT Department sources, Sarma, who also has business interests in coal, faces charges of tax evasion to the tune of several crore rupees. The raids were conducted by the joint team of Shillong and Kolkota branch of IT Department.

�Sarma�s diversified business interests were under the department�s scanner for quite some time. The raids began early this morning and a number of documents have been seized,� sources said.

A senior IT department official said that a recent assessment of the tax accounts maintained by establishments owned by Ratan Sarma has shown serious discrepancies and the department is scanning them.

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IT raids in city trader�s establishments

GUWAHATI, Dec 6 � Sleuths of the Income Tax Department today conducted simultaneous raids in a number of establishments of Guwahati-based businessman Ratan Sarma in Assam and other parts of the North East.

Raids were conducted in Guwahati, Arunachal Pradesh (Banderdewa), Imphal and Meghalaya since early this morning and is likely to continue till tomorrow.

In Guwahati itself, searches were conducted in 13 locations belonging to Sarma including Hotel Belle Vue in Kharghuli, Spring Valley Resorts in Sonapur and offices of TMT bar office in Fatasil Ambari beside a number of business establishments under Satyam group.

The sleuths also sealed a number of rooms of Hotel Belle Vue which was undergoing renovation.

According to IT Department sources, Sarma, who also has business interests in coal, faces charges of tax evasion to the tune of several crore rupees. The raids were conducted by the joint team of Shillong and Kolkota branch of IT Department.

�Sarma�s diversified business interests were under the department�s scanner for quite some time. The raids began early this morning and a number of documents have been seized,� sources said.

A senior IT department official said that a recent assessment of the tax accounts maintained by establishments owned by Ratan Sarma has shown serious discrepancies and the department is scanning them.

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