Tax raids at Bangalore, Hassan, Mandya to curb black money

The Income-Tax Department Tuesday said it is conducting searches at about a dozen premises in Karnataka on charges of tax evasion. The raids are being conducted in state capital Bangalore, Hassan and Mandya and the department said the action is aimed against tax evaders and black money generators.

Official sources, however, indicated that links of these persons with respect to ongoing polls will also be a part of the investigative operation. "The searches are based on credible intelligence that certain businessmen have earned income not disclosed to tax and are in possession of undisclosed assets.

"Taxpayers covered in the search operations are engaged in the business of real estate, quarrying and stone crushing, executing government contracts, operating petrol bunks, sawmill and managing cooperative banks," the department said in a statement. These are sectors, it added, which are "prone" to the generation of black money.

It said five residences in Hassan, one each in Bangalore and Mandya along with their business premises are being covered as part of the search operations. About a dozen premises are being searched, sources added. 28 Lok Sabha seats in the state will go to polls in two phases on April 18 and 23.

(With inputs from agencies.)