I-T raids on 15 premises of areca firm

Officials of the Directorates of Investigation, Karnataka and Goa of the Income Tax Department carried out search and seizure operations at the residential and business premises of a group based in Chitradurga district on Saturday.

The group is engaged in various businesses including arecanut trading, manufacturing of pan masala and sugar, mining and also runs a co-operative society. The search was conducted at 15 premises spread over North Karnataka and Bengaluru. During the search, various incriminating documents showing financial irregularities, and other evidence was found, indicating substantial evasion of income tax by the business group. The evidence found is being further analysed and being corroborated by the teams of officials.