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The Income Tax Department carried out search and seizure operations on 03-03-2021 on two groups of civil contractors in Southern Tamil Nadu. Searches and surveys were conducted in 18 premises mainly in Madurai and Ramnad districts. Based on intelligence inputs about the existence of cash, which is likely to be distributed for election purposes, searches were mounted on the business groups. The action resulted in the finding of unaccounted cash of Rs. 3 crore which was seized. Other fin
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FAQ :
The Income Tax Department conducted search and seizure operations on 03-03-2021.
The searches were conducted on two groups of civil contractors in Southern Tamil Nadu.
Searches and surveys were conducted in 18 premises, primarily in the Madurai and Ramnad districts of Southern Tamil Nadu.
The action was based on intelligence inputs indicating the existence of cash likely to be distributed for election purposes.
Unaccounted cash of Rs. 3 crore was seized. Other findings included the identification of bogus expenses and the use of over 100 subcontractors to book expenses for illegal payments.
As a result of the search, unaccounted income of Rs. 175 crore has been detected.
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