Income tax raid on several locations of tobacco businessman

Kanpur, March 01 (HS). The Income Tax Department raided 14 establishments of a tobacco businessman and conducted investigation late Thursday night. More than 50 officers were engaged in the investigation in factories, warehouses and offices located in Kanpur, Delhi and Ahmedabad. The team has seized a large number of documents, laptops, mobiles etc. The Income Tax Department has conducted raids on suspicion of income tax evasion.

Banshidhar, based in Ramganj-Nayaganj of Kanpur, does tobacco business in the name of Shriram Firm. The Income Tax Department has raided his office and three establishments located in Hotel Aryanagar located in Sugar Belt along with his residence. Along with this, the residence in Delhi was also raided.

If sources are to be believed, the businessman has an old office in Ramganj. Earlier he used to do business while living in Aryanagar. Long ago he moved to Delhi and established his business in Ahmedabad. There is a factory in the city. Traders supply tobacco on a large scale to all the major pan masala traders.

Teams of more than 50 Income Tax officials raided the Ramganj-Nayaganj office of Banshidhar Shriram firm on Thursday night. In comparison to the returns of the last few years, less tax was being paid even after the business grew.