Summary:
The consequent search under the leadership of Parneet Sachdev (Principal Director of income tax) and Ritesh Parmar (Additional director of income tax) resulted in detection of undisclosed income to the tune of Rs. LUDHIANA: Following the 11 I-T surveys conducted by the Income Tax Department , under instructions of chief commissioner of income atx (CCIT) Ludhiana, Binay K Jha huge amount of tax evasion and undisclosed income worth several crores has been unearthed by department. The action undertaken by department has led to two of the firms surrendering close to Rs. 5.40 Crores to department.A statement released on Saturday by CCIT office said “The I-T department successfully concluded two Survey/Search Operations yesterday. This will help them not only to avoid penalties and prosecution in the near future but also become honest and proud taxpayers”..