2 Kaithal industries disclose Rs 75-cr income in I-T survey

Satish Seth

Kaithal, January 19

Two industrial houses in Kaithal have disclosed Rs 5.75 crore of income for the current year following a survey conducted by teams of the Income Tax Department. The survey that began on January 17 completed late Friday night. A heavy police force was deployed around the business premises.

The teams were led by Additional Commissioner of Income Tax Vandana Mohite and comprised ITO, Kaithal, SC Kumar; ITO, Kurukshetra, Maya Ram; Inspectors Roshan Lal Saini and Vishal Satija and a number of other officials reached the business premises on January 17 morning and scrutinised their records.

Though no official information was available about the survey, sources said that a group’s three firms owned by Sandeep Chaudhary and his family members, including ADS Enterprises, Paramount Composit Industries and Chaudhary Polymers reportedly declared Rs 3 crore.

The firms of the second industry owned by Jaideep Chaudhary and his family members, including Chaudhary Steel India, Sun Plastics and Surya Industries reportedly declared Rs 2.75 crore income. According to department sources, the disclosed income will attract tax at the rate of 77.25 per cent under Section 115BE of the Income Tax Act.