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Income Tax Raid: Income Tax Department on Saturday simultaneously raided more than a dozen locations of three big shoe traders. Among them, cash worth more than Rs 60 crore was found at the residence of Ramnath Dang, proprietor of Harmilap Traders located at Jaipur House.
These notes were filled in beds, boxes and cupboards. When some machines got heated, new machines were ordered and the notes were being counted even after 12 o’clock at night.
Undeclared income of more than Rs 100 crore is likely to be exposed in the raid. Information has also been received about large scale investment in land and purchase of gold by all three businessmen. Documents of large investment in land have been found near Fatehabad Inner Ring Road.
Different teams of Income Tax Department raided
Different teams of Income Tax Department started action simultaneously at about a dozen places including Harmilap Traders located at Hing Ki Mandi, BK Shoes located near Subhash Park, his family’s Manshu Footwear establishment and house located at Dhakaran Chauraha at 11 am on Saturday. Harmilap Traders trades in shoe material, BK Shoes and Manshu Footwear Company also have factories along with shoe trading. The team found the maximum amount of cash during the action at the residence of Ramnath Dang of Harmilap Traders located at Jaipur House.
Soon after the operation began, the Income Tax department officials were shocked when heaps of notes started piling up. Such a huge amount of cash has not been found here in the last few years. Machines were called from banks to count the notes. According to official sources involved in the raid, cash worth Rs 60 crores has been counted till midnight, but a lot of notes are still uncounted. Heaps of bundles of 500-rupee notes were piled up on the bed.
Secrets are hidden in laptops and mobiles
The Income Tax Department has confiscated laptops, computers and mobile phones from the establishments of shoe traders. Data is being taken from them. Investigation of stock registers along with receipts and bills has revealed many shocking information. The biggest slip is about business, which was used in place of notes. In Agra’s shoe business, there is a huge transaction of traders’ slips, whose payment period is different. Big businessmen pay on these slips quickly but deduct some commission. Later, they take payment from the trader on completion of the fixed period of the slip. The operator of an establishment did not open the lock of his iPhone. Big secrets of transactions may be hidden in it.
They are related to each other
BK Shoes’ proprietor Subhash Midda, Ashok Midda and Manshu Footwear’s owner Hardeep Midda are real brothers. Earlier, all of them used to work together, but later Hardeep separated. Both have become big names in a short time. BK Shoes is the biggest name in Agra’s domestic shoe market.
More than 30 officers are involved in the investigation
Teams from Agra, Lucknow, Kanpur, Noida are involved in the Income Tax Department’s investigation. Apart from more than 30 senior officers, tax inspectors are also involved in the investigation.
