J&K: Income Tax Department Detects Tax Evasion By Hospital Owner

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Jammu, Feb 21: The Income Tax Department has detected multiple instances of alleged tax evasion after it raided a business group that runs the biggest private multi-speciality hospital in Srinagar & during searches seven premises including four residential were covered.

The statement said Rs 82.75 lakh cash and jewellery and bullion worth Rs 35.7 lakh were seized & also sealed a bank locker found during the raids.

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The core business of the group includes running of the over 100-bed multi-speciality hospital, real estate and trading of household consumables.

The group has made unaccounted property transactions of more than Rs 100 crore in cash since finanical year 2013-14. The payments/investments made through banking channels by the buyers of plots are also under investigation as prima-facie verification has shown that the investments have not been made using tax-paid income.