Alankar Jewelers Pay Rs. 85 Lakh in Tax
Patna: Mar. 16, 2007
Income Tax sleuths, for the second day in a row, continued to search the houses and shops of the owners of 'Alankar', Patna's oldest jewelry outlets, even as the owners, on Friday, made a payment of Rs. 85 lakh to the Income Tax department while another jeweler in Patna City paid Rs. 20 lakh in back taxes.
Speaking to the media on Friday, the Income Tax investigation bureau director S. D. Jha confirmed the payments by both business houses adding the raids will continue and the exact extent of tax evasion would be determined only after everything has been taken into account.
The raids so far have revealed a combined asset of over Rs. 1 billion including 4 kilograms of gold, Rs. 41 lakh in cash, dozens of bank lockers and accounts, over Rs. 15 lakh in Reserve Bank of India gold bonds, Jha said.
Documents were also seized during the raid indicating properties owned by the Alankar owners in Delhi and other places, officials said.
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