Quick Summary
During the course of election surveillance being carried out for the ensuing assembly elections in Tamil Nadu and Puducherry, the Income Tax Department, has, on 16.03.2021, conducted search actions on five premises in Chennai. These five premises belong to five entities, who, in addition to their regular business, are also acting as Cash Handlers. The action resulted in a cash seizure of Rs 5.32 crore. In a separate development, the Income Tax Department, carried out search and seizure
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FAQ :
The Income Tax Department conducted searches on 16.03.2021 and 17.03.2021.
Searches were conducted in Chennai, Tirupur, and Dharapuram in Tamil Nadu.
In Chennai, a cash seizure of £5.32 crore was made from five premises belonging to cash handlers.
In Tirupur, Dharapuram, and Chennai, searches on a business group resulted in the seizure of £11.50 crore in unaccounted cash and the detection of £80 crore in unaccounted income.
The business group was engaged in yarn trading and the supply of PPE kits, bags, and baby care kits to various State Governments.
The seizure of large amounts of unaccounted cash is intended to reduce its potential use for electoral purposes, aiding the objective of free and fair polls.
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