As a part of the election screening, the Income Tax Department is conducting searches in Tamil Nadu and Puducherry as the dates for the voting were announced.
On 16 March, the department conducted searches at five campuses in Chennai. The campus belongs to five institutions which, apart from their regular occupation, are also working as cash handlers. This action was in the form of a cash seizure of ₹ 5.32 crore, according to a statement from the IT department on Friday.
Two days ago, the department investigated a business group – Anita Healthcare and Anita Texkot India Private Limited. Searches were carried out at eight campuses in Tirupur, Dharapuram and Chennai.
The discoveries revealed that the group is engaged in an exercise to suppress profits by increasing purchases and other expenses. The unaccounted income thus generated was used for investment in land and for the expansion of trade.
From this discovery. Unaccounted cash of Rs 11.5 crore was seized. The gross income found so far is 80 crores. Further investigation is underway.
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