According to sources in the department, the raids were conducted in connection with the Jain hawala case. The matter is to come up for hearing before the Supreme Court, which is monitoring probe into the case.
The raids, which began around 8 in the morning, was carried out at
Solan, Panaji, Faridabad, Gurgaon, Ahmedabad, Bangalore, Thiruvananthapuram and Madras, apart from the capital.
According to sources, a large number of incriminating documents relating to investments worth crores in real estate and other assets were seized during the raids. Because of the widespread nature of the raids, sources said, the directorate of investigations of the income-tax department had to draw officers of several branches to deploy staff for the raids. The raids were continuing well past dusk and were expected to go on till late at night as large teams of income tax department, accompanied by local police, were involved in conducting the searches.
Official sources said no satisfactory explanation was offered by the persons when asked about the investments made in movable and immovable properties. The premises of former Union minister Buta Singh were raided at Solan in Himachal Pradesh, where he reportedly owns property in the name of his family and has made investments in land.
Sources said a lot of incriminating documents were seized from the R K Puram residence of former Union minister S Krishnakumar In New Delhi. The former minister is said to have been present at his residence when the I-T sleuths arrived.
At the premises of Pradeep Kumar, at Delhi, Faridabad and Gurgaon, the searches were still continuing and those staying in the houses were also being questioned on various aspects related to the case.
Ahmedabad raid rumours unfounded
Our Correspondent AHMEDABAD
The market yesterday was rife with rumours of income tax raids on two prominent companies here. But enquiries revealed that the reports were overblown.
According to sources, a former chief secretary of Gujarat, now in New Delhi, is suspected to figure in the Jain diaries. Since he is known to be building a commercial complex here, enquiries were made at his residence in New Delhi and at a house belonging to him in Gandhinagar. Sources said nothing incriminating was discovered . Since the IAS officer was known to invest with it, routine enquiries were directed to one of the companies, as to whether he had routed any monies through the company for building the complex. This was not found to be the case. As regards the other company, the rumour of a raid was unfounded, sources said.
