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Journalism of Courage
CHANDIGARH, Dec 2: A `survey’ of the assets and transactions undertaken by two investment firms based in the City was carried out by the Income Tax Department today.
According to sources, various documents and records belonging to the two firms have been identified for scrutiny and further investigations.
The firms were receiving deposits from clients for the purpose of investment. Sources add that the identified documents also revealed incoming deposits as well as advances made to various parties. An IT official said that the department was trying to establish the source of the deposits and the amount of Income Tax evasion, if any, by the depositors as well as the firms.
