India News | I-T Dept Raids Two Luxury Watch Sellers in Delhi
Get latest articles and stories on India at LatestLY. The Income Tax Department has conducted searches against two major luxury watch sellers in Delhi as part of a tax evasion probe, officials said Tuesday.
New Delhi, Nov 1 (PTI) The Income Tax Department has conducted searches against two major luxury watch sellers in Delhi as part of a tax evasion probe, officials said Tuesday.
The sleuths launched the raids on Monday on the premises of Kapoor Watch Company and Johnson Company and their promoters on Monday, they said.
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Phone calls and email sent by PTI to the two companies did not elicit a response.
The officials said the tax department looked at the account books, sales bills and other documents as part of the searches conducted to probe alleged tax evasion and charges of reported cash sale of watches that are worth a few lakhs.
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The two companies have showrooms in prominent Delhi markets and deal in several high-end watches, including that of foreign brands.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)