I-T Dept Raids, Two Luxury Watch Sellers In Delhi

The Income Tax Department has conducted searches against two major luxury watch sellers in Delhi as part of a tax evasion probe, officials said Tuesday. The sleuths launched the raids on Monday on the premises of Kapoor Watch Company and Johnson Company and their promoters on Monday, they said.

Phone calls and email sent by PTI to the two companies did not elicit a response. The officials said the tax department looked at the account books, sales bills and other documents as part of the searches conducted to probe alleged tax evasion and charges of reported cash sale of watches that are worth a few lakhs. The two companies have showrooms in prominent Delhi markets and deal in several high-end watches, including that of foreign brands.

(PTI)