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I-T Dept detects over Rs 700 cr tax evasion after raids against Chennai's Chettinad Group


I-T Dept detects over Rs 700-crore tax evasion after raids against Chennai s Chettinad Group
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The Income Tax Department has detected tax evasion of more than Rs 700 crore after it recently raided multiple locations of Chennai-based Chettinad Group, the CBDT and official sources said on Tuesday.
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The income tax department has detected evasion of income of over Rs 700 crore after it conducted search and seizure operations on a Chennai based business group last week.
The searches covered 60 premises located in Chennai, Trichy, Coimbatore, various places in Andhra Pradesh, Karnataka and Mumbai associated with the business group which has interests in cement manufacturing, logistics, construction, among others. ....

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Chennai I-T raids Chettinad Group Rs 700 crore tax evasion | Business News – India TV


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I-T Dept detects over Rs 700 cr tax evasion after raids against Chennai s Chettinad Group
The Income Tax Department has detected tax evasion of more than Rs 700 crore after it recently raided multiple locations of Chennai-based Chettinad Group, the CBDT, and official sources said on Tuesday.
The highlight of the search includes seizure of unaccounted cash of Rs 23 crore from various locations, the CBDT said in a statement. As of now, the department has succeeded in detecting evasion of income of over Rs 700 crore, it said.
The statement claimed that tax sleuths also detected documents related to possession of foreign assets to the extent of Rs 110 crore in the form of fixed deposits, which were not disclosed in the return (income tax return) and will attract action under the Black Money Act . ....

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Tax evasion: I-T department detects over Rs 700 crore tax evasion after raids against Chennai's Chettinad Group


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NEW DELHI: The income tax (I-T) department has detected tax evasion of more than Rs 700 crore after it recently raided multiple locations of Chennai-based Chettinad Group, the CBDT and official sources said on Tuesday.
The highlight of the search includes seizure of unaccounted cash of Rs 23 crore from various locations, the CBDT said in a statement.
As of now, the department has succeeded in detecting evasion of income of over Rs 700 crore, it said.
The statement claimed that tax sleuths also detected documents related to possession of foreign assets to the extent of Rs 110 crore in the form of fixed deposits, which were not disclosed in the return (income tax return) and will attract action under the Black Money Act . ....

Tamil Nadu , Trichy Tiruchirappalli , Chettinad Group , Chennai Based Chettinad Group , Black Money , Tamil Nadu Based , Andhra Pradesh , Central Board , Direct Taxes , தமிழ் நாடு , திருச்சி திருச்சிராப்பள்ளி , செட்டினாட் குழு , சென்னை அடிப்படையிலானது செட்டினாட் குழு , கருப்பு பணம் , தமிழ் நாடு அடிப்படையிலானது , ஆந்திரா பிரதேஷ் , மைய பலகை , நேரடி வரி ,