Scrap dealer in Waluj also raided: Search continues on the second day
Chhatrapati Sambhajinagar: The Income Tax (IT) department has initiated raids on Polycab India Limited, a cable and wire manufacturing company, along with 50 of its distributors across the country. The actions were prompted by suspicions of tax evasion, leading to simultaneous raids on the company's distributors, including one in the city.
'Polycab' is the largest cable and wire manufacturing company in the country. The company was suspected of tax evasion and the IT department simultaneously raided 50 of its distributors across the country. The company's distributor office in the city is located in Trimurti Chowk, Jawahar Colony and in Mondha Naka. It was raided by IT officials at 7 am on Friday.
The distributor's bungalow in Sindhi Colony was also raided. In all, 16 officials of the IT department from Mumbai and Delhi entered the city in four cars. The authorities first switched off the mobile phones of all the members of the house. Police security was kept at the showroom and at home. The search was going on till 10 pm on Friday. The investigation which started again on Saturday morning continued till night. The showroom at Mondha Naka was reopened on Saturday. However, the showroom at Trimurti Chowk was closed. Two policemen were stationed outside the showroom.
Raid on a scrap dealer in Waluj
Two years ago, the GST department conducted massive raids on scrap dealers in the city. Now the IT department once again focused on the scrap dealer. Action was taken against the big scrap seller in Waluj for two days on Thursday and Friday. However, the officials refused to disclose the information about the documents found in the raid.