In the ongoing search operation at Chiripal Group, a conglomerate based in Ahmedabad, the Investigation Wing of the Income Tax Department in Gujarat have seized Rs. 25 crore in cash, Rs. 10 crore worth of jewellery, 1.50 lakh dollars and 25 lockers. Cash of Rs 10 crore was seized in the operation, it was earlier reported earlier.
The Chiripal Group is involved in various business sectors like Textiles, Chemicals, Education, Solar and Building construction. Their main office, Chiripl House is located at Shivranjani cross roads in Ahmedabad whereas Chiripal Corporate House is located in Bopal area of Ahmedabad.
The massive operation, initiated by the investigation wing in Surat, was started on early morning on 19th July. Income Tax officials from Surat and Vadodara along with Ahmedabad are on the operation. joined. The raids are being conducted at about 49 locations, including the offices and residences Jyotiprasad Chiripal, Vedprakash Chiripal, Brijmohan Chiripal, Vishal Chiripal and Ronak Chiripal. The searches were also conduscted at Nandan Denim and Vishal Fabrics.
After gathering evidence for reasonable suspicion of tax evasion, the Income Tax departmentassigned the task to the Surat investigation wing to conduct the searches while significantly keeping the Ahmedabad officials at arm’s length in the investigation. The Income Tax sleuths have caught hold of a large number of documents pertsining to investment in lands.
Meanwhile he digital documents caught by the officials are being verified by the officials of FSL.
