Tax Department conducted searches on 2 business groups in Tamil Nadu
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- Last Updated on 14 July, 2022
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Press Release, dated 12-07-2022
The Income-tax Department has carried out search and seizure operations on two business groups of Tamil Nadu engaged in the business of Civil Contracts, Real Estate, Advertising, etc.
During the search operations, various incriminating documentary and digital evidence have been seized. The preliminary examination of such evidence indicates that both these groups have been suppressing their taxable income by claiming bogus purchases and expenses in their books of account over the last few years. The undisclosed income of the groups detected so far is estimated at more than Rs. 500 crores.
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