I-T raid on Asnani group, associates

Source: The Hitavada      Date: 17 May 2018 10:27:40


Staff Reporter

Income Tax Department conducted raid at Asnani group and its associates on Wednesday morning. On the first day of raid, lots of incriminating documents and investment related documents have been confiscated. The group is mainly involved in real estate. Picture regarding concealment of undeclared income will become clear on Thursday but it is being widely believed that concealment of income is in crores of rupees. Sources informed that IT raid against Asnani group covered 30 premises, two each in Indore and Bengaluru and rest are said to be in Bhopal. Main persons of group are Bishan Das, Om Prakash Kriplani, Manoj Bhulchandani, Jayant and Rajendra Bhandari.

Meanwhile, Income Tax Department has also carried out survey in connection with group in Raipur of Chhattisgarh, Surat and Gandhi Nagar of Gujarat, Kolkata etc. Income Tax Department believes that some benami properties may also surface but it is unsure so far. Prima facie, income Tax Department believes that tax evasion could be of Rs 50 crore and things in this regard would become clear once the raid is completed.