Quick Summary
The Income Tax Department has carried out search and seizure operationson01.12.2021in respect of2 groupsengaged in the Retail Sales of Jewellery, Textiles and Home Appliances through their popular chain of Stores in Chennai, Coimbatore, Madurai and Tirunelveli. A total of37 premiseswere covered in t
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Broadcasts
- Daily E-Newsletter
- Unlimited News Access
BEST VALUE
2 YEAR PLAN
3,499
(Inclusive of GST)
1 YEAR PLAN
1,999
(Inclusive of GST)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The search and seizure operations were carried out on 01.12.2021.
The operations targeted two groups engaged in the retail sale of jewellery, textiles, and home appliances.
A total of 37 premises were covered in these actions.
The first group is suspected of suppressing sales by more than Rs 1000 crore over several years.
The searches led to the seizure of Rs 10 crore in cash and jewellery/bullion worth about Rs 6 crore.
Other irregularities included unaccounted cash purchases, bogus bills, inflated making charges on jewellery, unaccounted rental receipts, and unaccounted scrap sales.
CAclubindia
