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Income Tax Department carried out search and seizure operations on 15.06.2022 ona leading industrial group of Chennai, engaged in the business of manufacturing of IMFL, logistics, hospitality, entertainment etc. The search operations were carried out at more than 40 premises located in Chennai, Villupuram, Puducherry, Coimbatore and Hyderabad. During the course of the search operations, various incriminating documentary and digital evidences have been seized. The analysis of such evidences in
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FAQ :
The Income Tax Department carried out search and seizure operations on 15 June 2022.
The industrial group is engaged in the manufacturing of IMFL, logistics, hospitality, and entertainment, among other businesses.
The search operations took place at over 40 premises located in Chennai, Villupuram, Puducherry, Coimbatore, and Hyderabad.
The analysis of seized evidence indicates tax evasion exceeding £400 crore.
So far, undisclosed cash of £3 crore and unaccounted gold jewellery worth £2.5 crore have been seized.
The group is suspected of debiting non-genuine purchase bills and receiving cash back from cheque payments to suppliers for unaccounted investments.
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