The Income Tax department carried out a search operation in a diamond factory in Navsari on Wednesday. According to sources, an I-T team conducted the investigation at 4 am at the diamond factory, which is also known as Ratnakala Export. The Income Tax department is still in the operation and it has yet not clarified that whether it is a survey or a raid.
Apart from Navsari, Ratnakala Export has offices in Morbi and other cities therefore there are possibilities of more than one place to be investigated.
Ratnakala Exports is also known as Gandhi’s factory and a team from the I-T department is said to have examined important documents and financial transactions there.
The administration of Ratnakala Exports has been handed over to another branch so I-T department can investigate it, stated the sources.
Following this incident, other firms in the diamond industry at Navsari have also become cautious and have started maintaining their accounts in a needed manner.
Surprising,in Gujarat state!
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