August 11, 2019 8:55 AM

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I-T raids on two liquor manufacturers in Tamil Nadu;unearths undisclosed income of Rs 700 crore

<span style="color: #222222;">The Income Tax raids on two liquor manufacturers in Tamil Nadu have unearthed undisclosed income worth about 700 crore rupees. In one of the group, the searches began on the 6th of this month and ended yesterday. </span><br />'' <br />'' <span style="color: #222222;">Its 55 premises in Tamil Nadu, Kerala, Andhra Pradesh and Goa were searched by the IT officials based on a tip off that it was evading tax by inflating accounts of expenditure on raw materials. Officials found a tax evasion of about 400 crore rupees over a six-year period.</span><br />'' <span style="color: #222222;"><br />''<br />''The searches on the other group began on the 9th of this month and is still going on. The IT sleuths have so far found tax evasion there using the same modus operandi, of about 300 crore rupees.</span>

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