Developer under I-T scanner

Income Tax Department officials conducted raids at nearly 25 offices,residences and concerns co-owned by the directors of A P Shreshtha Colonisers in Chandigarh,Panchkula,Derabassi and Zirakpur on Friday. The directors,Mittal and Goyal groups,have a chain of business concerns in construction,real estate,poultry and jewellery. Rs 70 lakh was seized from various offices co-owned by Manoj Mittal and Ashok Mittal.

Raids were also conducted at the Sector 4,8,9,20 residences of the two partners,Jagdish Goyal and Suresh Singla,and their Barwala poultry farm. The raids were still on at the time of filing this report.

“We had received information that the group had been showing inflated returns disproportionate to their income and were evading the filing of income tax returns. We have seized Rs 70 lakh in cash and a few important documents in the raids. We suspect a large number of irregularities in the activities of the company’s units,”said a senior Income Tax Department official.