The sources said it was the Chettinad Group; More than 50 locations are being registered in Chennai, Bengaluru and elsewhere.
The Income Tax Department (TI) knocked on the doors of a major business house in the state, based in Chennai, on Wednesday.
More than 60 locations, including factories, offices and residential properties belonging to the group, were searched by Income Tax detectives on suspicion of tax evasion. While the IT Department did not officially mention the group’s name, sources said it was the Chettinad Group.
“The searches continue as this is a huge group. The searches were carried out in Chennai, Coimbatore, Dindigul, Mumbai, Bengaluru and Andhra Pradesh, ”said a Department investigating officer. “We also searched places belonging to some directors and group leaders,” he said without revealing their names. When asked what led to the searches, the officer said it was a routine tax evasion check.
The Department tweeted: “The IT Department is conducting a search on a prominent Chennai business group, which has various business activities. About 60 facilities are being covered in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra ”.
“We also searched places belonging to some directors and group leaders,” he said without revealing their names.
When asked what led to the search operation, the officer said it was a routine tax evasion check.
The IT department posted a tweet on its official website, which read: “The IT department is conducting a search operation on a prominent Chennai business group that has various business activities. Approximately 60 locations covered in Tamil Nadu, Karnataka, Andhra Pradesh and Maharashtra. Over ₹ 7crore of unaccounted for cash found from key person so far. The search is still ongoing. “
Late in the evening, officials said some Singapore-based accounts were also being investigated. “We are verifying the details of these accounts,” an official said, adding that more details will be shared once the investigation is complete.
The IT Department tweet added: “So far, more than ₹ 7 crore of unaccounted for cash from key people has been found. The search is still ongoing. “
Late in the evening, officials said some Singapore-based accounts were also being investigated.
“We are verifying the details of these accounts,” an official said, adding that more details will be shared once the investigation is complete.
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