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The Income Tax ( Investigations), Panchkula, today disclosed that in search operations being carried out at the Chinar Group and Manmohan Singh & Company premises on September 8 and 9, there has been a seizure of Rs 4.34 crore. “It includes Rs 3.36 crore in cash and jewellery worth Rs 98 lakh,” said Income Tax Director (Investigations) Y R Saini.
He added, “The Chinar Group has disclosed unaccounted income of Rs 24 crore. Out of 18 lockers detected, 11 have been operated so far. The remaining are yet to be opened.”
On Manmohan Singh and Company, he said, “The books of account of the firm have not been completed for the last two years. Out of the total seizure, Rs 50 lakh and jewellery worth Rs 18 lakh pertain to this company. The verification of seized documents is still going on.”
A total of 16 premises were targeted in the searches and surveys on the two entities.(Indian Express)
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