The income tax (I-T) department conducted a search on the premises of an individual against whom “credible evidence of large scale undisclosed financial transactions” was found, on Wednesday. The operation was conducted in four places in the Kashmir Valley and three places in the national capital.
The person is the head of a prominent organisation allegedly indulging in anti-national activities, the Central Board of Direct Taxes said in a press statement. The names of the individual and the organisation were not mentioned in the release.
“During the search, huge unaccounted expenditure — incurred in cash on the reconstruction and re-modeling of the residential premises — was found , which was being used by the tax evader’s family,” the release said. The department also said despite the huge size of the transactions, neither the person nor any of his family members have filed any I-T returns to date.