Srinagar, Oct 10: The Income Tax Department continued its raids for the second consecutive day in various locations across the Kashmir Valley, targeting multiple businesspeople.
These raids, part of an ongoing investigation into the financial activities of the ARCO group, were carried out in several areas including Srinagar, Sopore, Sonamarg, Khrew, Budgam, Humhama, Lal Mandi, and Hyderpora.
Official sources revealed that substantial amounts of cash, along with evidence of property investments and various documents, have been seized during these operations.
Approximately two crore rupees in cash were found during the raids at Hyderpora. In Srinagar, the Income Tax Department, Delhi, conducted searches at Arco Textile (DTA) and Dawar Textile Agency in Lal Mandi, both establishments owned by Jameel Aiman, a resident of Sopore. His residence at Shah Anwar Colony in Hyderpora was also raided.
Another team led by Sudeep Dabas conducted operations at Kashmir Glass Industry, owned by Adil Magray, and Modern Steel, owned by Nisar Ahmad, both located in Phase 3rd SIDCO Khunmoh.
In Sopore town, a search operation was carried out at the residence of Javid Ahmad Aiman, a member of the ARCO business group.
While specific details about the ongoing investigation have not been released by the Income Tax Department, these actions highlight the government’s commitment to upholding financial transparency and enforcing tax laws.
