I-T raid on race bookies’ houses, offices

BANGALORE: The Income Tax (I-T) officials raided houses and offices of race bookies on Monday morning, after receiving credible information that they were allegedly evading taxes. Cash, valuab

Published: 07th February 2012 02:02 AM  |   Last Updated: 16th May 2012 05:51 PM   |  A+A-

BANGALORE: The Income Tax (I-T) officials raided houses and offices of race bookies on Monday morning, after receiving credible information that they were allegedly evading taxes. Cash, valuables and other documents were seized during the raids. I-T sources said that the sleuths of the investigation wing of the department had zeroed in on a few bookies for allegedly evading taxes. “Over 100 staff in a few teams, simultaneously raided the houses and offices. Some of the houses raided were located in apartments in Sheshadripuram, Cunningham Road, Vasanthanagar, Race Course Road, Kumara Krupa Road and other areas. In a house, a hard cash `1.30 crore was seized. Some important documents which could be used to prove their involvement in tax evasion were also seized,” the sources informed.

The sources also said that the officials were suspecting that the bookies invested black money in the race. “We have information that crores of rupees are being invested on race. It is important to know the root from where this money is being pumped. Moreover, for all these transactions no tax was paid,” the source added.

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