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IT raids on 2 Chennai-based groups reveal Rs 1k cr undisclosed income
TIWN
IT raids on 2 Chennai-based groups reveal Rs 1k cr undisclosed income
PHOTO : TIWN

New Delhi, March 7 (TIWN) The Income Tax Department has carried out searches on two Chennai-based groups, one of which is a leading bullion trader in Tamil Nadu and the other is one of the biggest jewellery retailers in South India.

The searches, so far, have resulted in the detection of undisclosed income of more than Rs 1,000 crore, said a Finance Ministry statement, adding that unaccounted cash of Rs 1.2 crore has been seized so far.

The search operation was carried out at 27 premises located in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Trissur, Nellore, Jaipur and Indore on Thursday, March 4.
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