Ludhiana, October 6: Panna Singh Pakorewale from Ludhiana surrendered Rs 60 lakh to the Income Tax department. According to a report published in The Times of India, the IT department conducted a day-long survey at the two outlets of Panna Singh Pakorewale on Thursday. The outlets are located at Gill Road, and another at Model Town. The department took action after getting an input that the shop owner was not revealing its real income.
The action was taken under instructions from principal commissioner DS Chaudhary. According to the report, the action was taken as per guidelines from principal commissioner DS Chaudhary. The teams of the I-T department scrutinised the financial records of the firm. In addition to this, the department also kept a check on the daily sales by stationing an officer at the cash counters at the two outlets. Srijan Scam: IT Department Conducts Raids at Residence of Bihar Deputy CM Sushil Modi’s Sister Rekha in Patna
Based on the calculations of the daily sales and the verifying the tax returns filed by the owner, the department calculated the tax liability of the firm. The owner of the shop, Dev Raj confirmed to TOI that he had surrendered Rs 60 lakh to the I-T department on Thursday. Late Panna Singh set up a small ‘pakoda’ shop at Gill road in 1952. According to the report, dry fruit store in Miller Ganj surrendered Rs 1 crore to the department as its undisclosed income.