I-T raids in Srinagar, Delhi

“The head of a prominent organisation allegedly indulging in anti-national activities along with his associates were covered in a sensitive search action by the Income Tax Department today,” an official release said. “Search action has been conducted at 4 premises in the Valley and 3 in the national capital”.

The release said the searches yielded “credible evidence of large scale undisclosed financial transactions carried out in the business of quarrying and hotels”.

Without naming any one, the official release said that the head of the “prominent organisation” carried out large scale financial transactions but has not filed any income tax returns. “During the search, clinching evidence was also unearthed of huge unaccounted expenditure having been incurred in cash on the reconstruction and re-modelling of the residential premises presently being used by the tax evader’s family,” the release said.