Income tax raid on MY Car group

Source: The Hitavada      Date: 08 Feb 2018 10:28:01

Staff Reporter

Income Tax Department conducted a raid against MY Car group on Wednesday. Apart from Bhopal, premises of MY Car group were also covered in Indore, Jabalpur, Kanpur and Raipur. In crux, around 18 premises were covered in raid which is likely to continue till one or two days more.

Sources in Income Tax Department said that MY Car group has been covered under Wednesday’s raid. This group initially entered into business arena through car business and later made foray into real estate business.“Initially, raid covered around one dozen premises of group but later number of premises got increased. Around 12 premises have been covered in Bhopal, one in Jabalpur, two in Indore, one each in Kanpur and Raipur respectively. Saurabh Garg and his son Rishab are the main persons of My Car group,” said a senior I-T officer.

I-T sources claimed that MY Car group is having its branch office in Kanpur and this office has been also covered in raid. Incriminating documents have been confiscated in raid and they suggest to tax evasion. The exact amount of tax evasion could be known only once when raid gets concluded. I-T Department is also investigating that whether cars were sold through cash transaction during the demonetisation process. “Sometime back, I-T Department had conducted search against one another group. Satish Arora was the main person of this group and he also had some connection with MY Car group. It was in this manner that raid against MY Car group has been conducted,” said senior an I-T officer who is looking after the entire raid exercise.

Sources added that Income Tax Department is contemplating to once again cover Satish Arora. I-T Department sources said that MY Car group is on the radar of Income Tax Department from long time. In Bhopal, officers covered MY Car group’s premises at Link Road, Malviya Nagar etc.