Special Correspondent

CHENNAI: The Investigation Directorate of Income Tax carried out State-wide searches on six Hosur-based groups of companies and seized unaccounted cash and several documents relating to undisclosed receipt of money on purchase/sale of land and buildings and sale of jewellery using specialised software.

A release issued by the department stated that more than 300 officers were deployed in the operations that were carried out on 37 premises spread over Chennai, Bangalore, Hosur, Puducherry, Karaikudi and Courtalam on March 13 and 14. The officers also seized unaccounted cash to the tune of Rs.82 lakh while the group of companies admitted to unaccounted income of Rs.19.62 lakh.

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