Gujarat: IT Dept raids textile, ceramic businesses in Surat and Morbi

Surat, May 9 (SocialNews.XYZ) The Income Tax (IT) Department conducted raids against the business groups in Surat and Morbi on Thursday.

Surat, May 9 (IANS) The Income Tax Department on Thursday launched a series of raids against business groups in Gujarat's Surat and Morbi

Over 100 officials were investigating 12 locations of the Aishwarya Group in the Surat textile industry was raided. The investigation began today. The coordinated raids and surveys, a direct consequence of the recent electoral conclusion, targeted the textile giant and extended to affiliated enterprises, including a notable coal businessman linked to the Aishwarya Group, officials shared. They are under scrutiny due to suspected financial irregularities. Further investigations stretched to Morbi, where a business group involved in the ceramic sector also underwent scrutiny by tax officials. The authorities are exploring the possibility of uncovering substantial undisclosed financial transactions through these operations. The raid will continue for over a day, and the outcome of the investigation is awaited. Janvi

Source: IANS