The Income-tax department conducted search and seizure operations on June 11, 2019 on a prominent business group based in Srinagar. The group has got their loans of Rs.170 crore with J&K Bank restructured for a sum of Rs.77 crore, out of which, payment of only Rs. 50.34 crore has been made so far. Surprisingly, none of the members of the group is regular in filing their Income-tax Returns.
from taxmann.com News http://bit.ly/2KeZQEn
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