I-T raids Nuova company office, premises of owner in Agra

New Delhi, Jan 4 (IANS) The Income Tax department on Tuesday conducted raids on the premises and office of a businessman in Agra whose company, Nuova, manufactures shoes.

The team raided the Agra-based office of Nuova shoes, which belongs to Harsimran Singh Alag alias Mannu.

R.C.K.K. is the parent company of Nuova shoe unit, which deals in the export of shoes. It is a prominent shoe export company, established in 1964 and has a vast business network all over India.

The I-T team started conducting raids by searching the premises of Ajay Chaudhary, a builder of ACE Group. Later, another team conducted raids at several locations in Agra.

The I-T had claimed that the company hid London dealings to avoid tax, and thus committed tax evasion.

"The company did business in London. But they hid the transaction to avoid tax. They are accused of tax evasion. We are searching the digital data and balance sheets," said a source.

The Nuova shoe also has an office in sector 83 of Noida, which was also reportedly searched by the I-T team.

The I-T team said that they will record the testimonies of the chartered accountants of the company.

The team said that it wanted information about a few suspicious business transactions. They will also check the ledger accounts of the company.

As of now, the I-T team has not arrested anyone in this connection.

"The raids are continuing and after its completion, we will be able to comment on the matter," the I-T team said.