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Our Bureau

New Delhi, April 17

The Income-Tax Department on Tuesday searched about 25 premises of eight groups of art gallery owners and art fund organisers in Delhi and Mumbai. The search was conducted based on specific intelligence received by the tax department that large incomes of the art galleries and the persons running these activities escaped assessment, official sources said. Some of these functioned as companies and some as operations run by individuals, they said. Besides search operations, the tax department also surveyed certain premises. In all, over 30 premises were searched and surveyed.

"The idea behind the search operations was to catch the big operators and persons doing it as a business and not disclosing all incomes. Unaccounted money was being passed as investments. There were also funding and financing activities," sources said.

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