Income Tax Department conducts searches in Tamil Nadu

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..... Income Tax Department conducts searches in Tamil Nadu
News and Press Release
Dated:- 2-11-2021

The Income Tax Department carried out search and seizure operations in Tamil Nadu in the ca .....

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..... se of a group engaged in the manufacturing of animal feeds, poultry farming, edible oils and export of egg products. The search action in the group was initiated on 27.10.2021 covering 40 premises loc .....

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..... ated in Tamil Nadu, Karnataka and Kerala. During the course of the search operation, several incriminating documents and materials in the form of electronic data have been found and seized. These sei .....

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..... zed documents indicate that the group is involved in suppressing its income by different ways such as inflating expenses including booking bogus purchases, by under invoicing of sales and also by non- .....

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..... reflecting scrap/by-products sales in the regular books of accounts. The analysis of seized documents also shows that unaccounted income so generated has been invested in acquisition and construction .....

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..... of various immovable properties and also incurred in meeting unaccounted expenses. The search action has resulted in seizure of unaccounted cash of Rs. 3.3 crore and detection of unaccounted income e .....

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..... xceeding ₹ 300 crore. Further investigations are in progress.
News - Press release - PIB .....

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