A team of 15 I-T officials of Hyderabad visited the CAPS Gold head office on Thursday.
Majority of black money hoarders are now planning to take refuge under Section 270A of the Income Tax Act to safeguard their money and also escape punitive action. (Representational image)
Hyderabad: The Income-Tax department on Thursday evening conducted a survey on Chanda Anjaiah Parameshwar (CAPS Gold) at RP Road in Secunderabad, one of the leading gold and silver bullion merchants of India. A team of 15 I-T officials of Hyderabad visited the CAPS Gold head office on Thursday and took some of the accounts books for verification as part of “routine procedure”.
An I-T official said, “We have conducted a survey on CAPS Gold on a tip off that they are selling gold at a higher price. We have checked and nothing significant has been found so far.”
( Source : Deccan Chronicle. )
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