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IT raids on city jewellery outlets

By Staff Reporter

GUWAHATI, Oct 20 � Sleuths of the Income Tax Department today conducted simultaneous raids at jewellery showrooms owned by Manik Chand and Sons (Jewellery) Private Limited and L Gopal Private Limited, two of the prominent manufactures and retailers of ornaments in the region.

The raids began at around 8 am in the capital city and went on till late in the evening. Both Manik Chand and L Gopal groups own three outlets each in Guwahati, IT sources said, adding �similar raids are also being conducted in their outlets located in Kolkata and Bangalore�.

The IT Department, it is reliably learnt, has sniffed a huge income tax evasion by both the groups, the size of which might go up to several crores of rupees, although the official version on this is still awaited.

�However, preliminary investigation has indicated that the traders might have to surrender a huge amount of tax,� the official added.

Search was also conducted in the city-based residences of Mukesh Soni and brothers at Chamber Road (the proprietors of Manik Chand and Sons) and Ram Gopal Soni (the owner of L Gopal Jewellery) at TR Phookan Road.

While L Gopal have outlets located in Kuber AC Market, Christianbasti and Ahmed Building (HB Road), the showrooms owned by Manik Chand are located in Chamber Road, Christianbasti and Fancy Bazaar (Shoppers� Point).

�The raid is being conducted on charges of direct tax evasion and we have sealed the outlets and some part of their residences in Guwahati,� a senior IT official stated.

�We have seized the requisite documents and once that is scrutinized, we will be able to disclose the exact amount of evasion indulged by both the groups,� he pointed out.

�However, preliminary investigation has indicated that the traders might have to surrender a huge amount of tax and penalty,� the official added.

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IT raids on city jewellery outlets

GUWAHATI, Oct 20 � Sleuths of the Income Tax Department today conducted simultaneous raids at jewellery showrooms owned by Manik Chand and Sons (Jewellery) Private Limited and L Gopal Private Limited, two of the prominent manufactures and retailers of ornaments in the region.

The raids began at around 8 am in the capital city and went on till late in the evening. Both Manik Chand and L Gopal groups own three outlets each in Guwahati, IT sources said, adding �similar raids are also being conducted in their outlets located in Kolkata and Bangalore�.

The IT Department, it is reliably learnt, has sniffed a huge income tax evasion by both the groups, the size of which might go up to several crores of rupees, although the official version on this is still awaited.

�However, preliminary investigation has indicated that the traders might have to surrender a huge amount of tax,� the official added.

Search was also conducted in the city-based residences of Mukesh Soni and brothers at Chamber Road (the proprietors of Manik Chand and Sons) and Ram Gopal Soni (the owner of L Gopal Jewellery) at TR Phookan Road.

While L Gopal have outlets located in Kuber AC Market, Christianbasti and Ahmed Building (HB Road), the showrooms owned by Manik Chand are located in Chamber Road, Christianbasti and Fancy Bazaar (Shoppers� Point).

�The raid is being conducted on charges of direct tax evasion and we have sealed the outlets and some part of their residences in Guwahati,� a senior IT official stated.

�We have seized the requisite documents and once that is scrutinized, we will be able to disclose the exact amount of evasion indulged by both the groups,� he pointed out.

�However, preliminary investigation has indicated that the traders might have to surrender a huge amount of tax and penalty,� the official added.