The Income Tax (I-T) department teams, which started conducting raids in Kerala’s Ernakulam and Kottayam-based four stone quarries, are still searching different premises. The I-T teams have found that the quarries allegedly evaded tax of more than Rs 200 crore.
The raids which started on Thursday are still going on and the I-T teams have found evidences of an alleged tax fraud.
After conducting raids at the quarries, their owner’s premises were also searched.
The raid wasn’t smooth and the accused were allegedly making efforts to destroy the evidences of alleged tax fraud.
The I-T team had to face a tough time during raids as the employees at quarries allegedly tried to destroy the evidences which were being recovered by the probe agency.
“They (quarry employees) tried to burry ledger account in the toilet. They threw pen drive in bushes. The raid wasn’t smooth. All this was being done to escape scot-free from the clutches of I-T team after conducting tax fraud,” said a source.
Sources have claimed that the quarries were involved in the ‘benami’ (illegal) and suspicious money transactions, but there were other irregularities as well.
The sources have claimed that nearly Rs 2 crore in cash was recovered by the I-T teams.
The quarries where the raids were conducted are situated at Thiruvaniyoor, Muvattupuzha, Nedumkunnam and Thannikode.
The I-T teams are still probing the matter. They are checking the details of money transactions of last few years as well as the business partners of the quarries.
The I-T officials also recorded statements of various persons who were present at the time of raid.
Officials said that the chartered accountants of the quarries are also being quizzed regarding different money transactions.
Further probe in the matter is on.