GUWAHATI, March 21 � Sleuths of Income Tax Department conducted raids in the office premises of JUD Cement and Best Cement located at Anil Plaza in ABC area and seized various documents of the firm.
Both the companies are owned by Adarsh Jhunjunwala, who is facing charges of tax evasion, which, according to IT sources, may run into several lakhs of rupees.
The office, located in the fourth and fifth floor of Anil Plaza, have also been sealed.
A 10-member IT team, led by IT Commissioner, conducted the raid around 9 am which continued till late evening. The raid is likely to continue till tomorrow.
An official of the IT Department informed that the company, in spite of being a beneficiary of 30 per cent subsidy on production, has not been filing tax returns since the last two years.
�Last year too, a search was carried out in the premises of JUD Cement and Best Cement, though no document could be seized. The management then reasoned that the documents were gutted in a fire that preceded the raid,� the official informed.
The company was under scanner for the last two years, the official added.
He further added that searches were being carried out in the Meghalaya-based plant of the company.
Meanwhile, sources went on to inform that with the financial year coming to an end, the IT Department will tighten the noose on the defaulters.