ALSO READI-T dept seizes assets worth Rs 900 cr in Nov-Mar 2017 Income Tax Department pushes additional cases of High Cash Deposits in Second Phase of Operation Clean Money Delhi: I-T seizes Rs 41 cr bullion, cash from private vaults 14,000 properties of Rs 1 cr each under scanner: I-T dept IT Dept pushes additional cases of high cash deposits in second phase of operation clean money
The Income Tax Department today conducted country-wide searches at over 100 stores and other premises belonging to two major south-India based jewellery chains on charges of alleged tax evasion, official sources said.
"The searches are in progress," a senior official said tonight.
The raids began early morning at130 premises of the two business houses in the cities of Chennai, Hyderabad, Thrissur and other locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, the sources said.
The action, they said, is aimed at checking alleged tax evasion, following demonetisation, in the two firms.
Sources said the taxman was investigating the "business" links between the two groups also, as part of the action.
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