PANAJI: The income-tax department on Friday conducted multiple raids across companies of the Fomento Group. Simultaneous raids were carried out in around 15 companies of the group located in Panaji and Margao and tax sleuths were spotted outside the group’s offices during the day.
The raids were conducted by the investigation department of I-T office located in the Passport Office building in Patto.
A senior source from the department said that “raids are in the wake of demonetisation and the government’s efforts to crack down on black money”.
He said that search operations were launched on Friday and would be carried out over the next two-three days.
“Operations will continue over Saturday and Sunday as we are camped out in the offices of the group,” he said.
It is likely that one more company was also raided on Friday but tax officials refused to divulge information. However a source said that a Margao-based automobile dealer with mining links was also raided alongside the Fomento Group.
The taxmen also declined to comment on the amount unearthed as the findings are yet to be completed.
The Fomento Group is the second largest player in the mining industry. The group comprises numerous companies including a five-star hotel in Dona Paula.
A year ago the group was under the scanner of the Enforcement Directorate which was checking the books of several mining companies for under-invoicing imports during the mining scam.
The senior source at I-T’s investigation department divulged that the ongoing raid would cover issues raised by the directorate as well as governments drive to unearth black money.
The I-T raids to clean up black money are in right earnest in Goa, in tune with similar operations being carried out by tax sleuths post-demonetisation.
During the week tax officials had swooped down on a prominent obstetrician and gynaecologist running a clinic in Margao. Dr Deepak Lawande was raided and it was on the heels of the raid conducted on a Panaji-based jeweller where Rs 90 lakh was reportedly uncovered. More raids and search operations are in the offing.
On September 30, the last date of the Income Declaration Scheme, the government had announced that the crackdown on tax evaders will commence as soon as the scheme ends. After going through property transaction records from the sub-registrar’s office, TDS deducted by banks and other sources, the I-T department made a list of tax evaders and sent out notices to them.
Several automobile dealers as well as jewellers have received notices.
People with black money have the option of depositing it in the bank but it attracts a heavy tax rate of 200 per cent not to mention coming under the eye of the I-T department.
OUR MARGAO REPORTER ADDS: Sources said that one G N Agarwal was also raided in Margao.
It was unclear whether the raids unearthed any unaccountable money or found any files pertaining to income-tax.
The raids began at around 8 am and continued till late evening.
The I-T sleuths, crime branch officials and policemen went through several files.