Tamil Nadu

I-T department continues crackdown

Income-Tax officials started searches in 21 premises in Chennai including S2 Cinemas, Ganga Foundations Group in Perambur on Tuesday.

Income-Tax officials started searches in 21 premises in Chennai including S2 Cinemas, Ganga Foundations Group in Perambur on Tuesday.

Income-Tax officials on Tuesday searched 21 premises in Chennai and 12 outside Chennai, as a part of their continuing crackdown on suspected shell companies and tax evasion.

The raids were based on specific inputs of large-scale tax evasion, money laundering and misappropriation of funds through shell companies, a senior Income Tax official told The Hindu.  Special teams accompanied by official witnesses commenced the surprise raids at premises belonging to Padmadevi Sugars, Sengottai; Ganga Foundations Pvt Ltd, Chennai; Marg Realtors Pvt. Ltd, Chennai; and Milan Textiles Enterprises Pvt, Ltd, Madurai. The searches continued till late on Tuesday night, he said. Ganga Foundations runs the Spectrum Mall located at Perambur in North Chennai.

Several incriminating documents and storage devices were seized when reports last came in, the official said and added that the searches followed actionable inputs on money laundering immediately after the demonetisation policy was announced. “We have come across a number of bank accounts so far. The investigators will peruse the details of transactions and freeze accounts if need be.”

About 150 Income-Tax officials accompanied by official witnesses were part of the operation, he added.

He also said Tuesday’s raids were not related to the raids conducted earlier this month on the premises of former Chief Minister Jayalalithaa’s former aide and jailed AIADMK leader V.K. Sasikala and her extended family members.

 


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Printable version | Jul 1, 2022 6:47:53 pm | https://www.thehindu.com/news/national/tamil-nadu/i-t-raids-at-33-locations-in-tamil-nadu/article21016845.ece