The Income Tax department raided the office of Manikchand distributor Mustafa Sales Agency and the residence of dealer Mustafa Sheikh on Nov 17. Post raids on 14 premises of the distributor, unaccounted cash of over Rs 7 crores were recovered from the office along with gold and silver jewellery worth Rs 3 crores. A total of Rs 100 crores of unaccounted income is seized from Manikchand distributor. During the search it has also come to light that Mustafa had invested his income in the construction sector.
More than 150 personnel and officers in 14 teams conducted the operations. Officials from State Reserve Police (SRP) were called in to provide security to the income tax teams during the operation. Main premise for investigation was Mustafa Sales Agencies, 29, Shoe Market, Behind Anand Cloth Market, Sarngpur, Ahmedabad.
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On Nov 17, The Income Tax department raided premises such as Mustafa Sales Agency in Sarangpur and the residences of Mustafa Shekhar and his partner brothers. Five crores of black money was found hidden under pillows in the bedroom of Mustafa Sheikh’s house. Another Rs 3 crore was recovered in the raid on the second day of the search. Dealer Mustafa Sheikh was shifted to hospital for treatment for chest pain during the raid.
The IT department has come up with the information that it will catch tax evasion by investigating the documents of the last ten years. A lot of the group’s business is in cash and suspicion of black money had also led to the search and seizure operation.
