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Sources said the raids were based on the prior information that the traders were reportedly not maintaining the account books properly and also evading tax liability worth several crores. More than six bank lockers were also sealed.In addition, the I-T sleuths also swooped down on the houses and offices of the traders in Kavi Nagar, Raj Nagar and Noida. GHAZIABAD: As many as 13 teams from the income tax (I-T) department conducted raids at the godowns and factories of six iron traders and suppliers in Loha Mandi on Monday and seized over Rs 1 crore.Besides, a large quantity of bullion and jewellery were also seized from them whose worth is yet to be ascertained. Their ledger books and various important documents were taken away by the officials for further study.Officials said the raids were primarily focused on P S Enterprises, Panna Lal and Company and their subsidiaries, besides suppliers Aryaman Ispat, Laxmi Steel, Gurja Steel and National Steel.
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