Friday, August 24, 2007

IT raids on city businessmen in July-Aug yield Rs 42 crore

THE Income Tax (IT) department’s raids at several business and residential premises in Pune, Thane, Amravati and Nagpur during the months of July and August yielded unaccounted income of around Rs 42 crore and assets worth Rs 7 crore including cash of Rs 6.5 crore, a release from the department said on Wednesday.

In Pune, raids were conducted on premises of prominent persons engaged in real estate business. However, the department did not give names of the persons. IT raids on city businessmen in July-Aug yield Rs 42 crore

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