IT raids on 3 knitwear units

GURGAON: The income tax (IT) department raided the premises of three prominent units of city-based knitwear industry and the houses of business tycoons on Saturday. Sources said 16 teams, comprising 120 officials from all over the region, including Gurgaon and Faridabad, had come to the city on Thursday and stayed in various hotels. On Friday, around 6 am, they drove away in 30-odd vehicles to raid the premises of Duke Fashions India Limited,Venus Garments and Neva Garments.
All these units are located on National Highway No 1, near Jalandhar bypass. The IT sleuths were assisted by the local police in conducting the raids. Although these teams did not obstruct production work in these units, they took possession of all documents in the offices. They also carried out simultaneous raids on the houses of these business tycoons,who happen to be brothers. While Komal Jain is the owner of Duke Fashions, Anil Jain owns of Venus Garments and Nirmal Jain, Neva Garments.
All three live in the civil lines area. The raiding teams were busy scrutinising the documents related to financial assets and transactions of these units at the time of filing of this report. Although no tax official was available for comment, sources in the department said the raids were coordinated by director, investigation wing, income tax department, RK Goyal. Confirming the IT raid,Komal Jain refused to reveal anything more, saying, "I cannot say anything more."