I-T raid on premises of Raymond tycoon Gautam Singhania

The Income Tax Department today conducted searches at the premises of prominent industrialist Gautam Singhania here and in Delhi over alleged tax evasion.

The I-T operation began early in the morning and was initiated by the Intelligence Wing of the department.

A team of about 150 I-T sleuths began searching the official premises of the business tycoon, who is the Chairman and Managing Director of the Raymond Group.

It was not immediately known if the residential premises of the industrialist were also being searched by the sleuths.

"Some premises of the group will also be covered in the searches in Delhi," an I-T official said.