Teams of the Income Tax (I-T) department conducted searches at over 40 premises belonging to a business group in Kashmir and Delhi, officials said on Wednesday.
“During the search operation, incriminating documents, handwritten diaries, and digital devices have been seized. Variation in stock has also been noticed in the various factories and retail outlets. Evidence of undisclosed investments in immovable properties located in the Kashmir Valley of more than ₹50 crore has also been found from various premises,” an I-T department spokesman said.
Officials said more than 40 premises were searched in Srinagar, Sopore, Budgam, Sonamarg, Pulwama in the Kashmir Valley and in Delhi. The premises belonged to a prominent business group engaged in various sectors such as cement, steel, glass, plywood, real estate, tourism, textiles and healthcare, etc.
