City Reports

IT raids in Jaipur, 23 other locations on Shree Cement on suspicion of tax evasion

Income The company's alleged tax evasion amounting to crores of rupees is expected to be exposed.

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June 21, 2023, 11:20 pm

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Income tax (I-T) department. File photo

JAIPUR: In a major crackdown on suspected tax evasion, the Income Tax Department conducted a series of raids on a prominent cement manufacturer.

The investigation team from the Jaipur Income Tax Department targeted over 24 locations, including Jaipur, Beawar, Udaipur, Ajmer, and Chittorgarh.

The raids extended to the residences of individuals associated with the company. More than 200 Income Tax officers and policemen were mobilized for the raids.

Sources reveal that the company’s alleged tax evasion amounting to crores of rupees is expected to be exposed as a result of this extensive operation.

The action involves officers from both Delhi and Jaipur, with a particular focus on scrutinizing income tax evasion based on technical grounds.

The raids, commencing at approximately 11:00 am, have reportedly yielded crucial evidence of irregularities in coal purchases for cement production and the corresponding payment processes.

Simultaneously, officers from the Income Tax Department are conducting raids at seven different locations, intensifying their search for incriminating evidence.

In a significant move, the Income Tax Department team extended their operation to the manufacturer’s plant situated in Gothda village, Nawalgarh.

Arriving in a convoy of several vehicles, the team targeted the administrative building within the cement plant premises.

The entrance to the administrative building was sealed, preventing employees from leaving during the ongoing operation.

First published: June 21, 2023