The Income Tax Department has been searching in TN and Puducherry since the announcement of voting dates.
As part of the screening ahead of the April 6 assembly election, the Income Tax Department is conducting a series of searches in Tamil Nadu and Puducherry, as voting dates were announced.
On 16 March, the department conducted searches at five campuses in Chennai. These five campuses belong 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 IT department knocked on the doors of a business group – Anita Healthcare and Anita Texcott India Private Limited. Searches were carried out at eight campuses in Tirupur, Dharapuram and Chennai. Discoveries have shown that the group is engaged in the practice of suppressing profits by increasing purchases and other expenses. Hence, the unaccounted for income generated was used to invest in land and expand business. The discovery has resulted in the seizure of unaccounted money for cash of ₹ 11.50 crore and the unaccounted income made so far is ₹ 80 crore.
Further investigation is underway.
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