Rs 1,000 cr undisclosed income found by I-T from two Chennai-based groups

The Income Tax Department has unearthed around Rs 1,000 crore undisclosed income and Rs 1.2 crore cash during recent search at two biggest jewellery retailers in South India.

The Department carried out searches on March 4, 2021 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. 

While the Department did not disclose the names, in the last few days it was carrying searches at Lalitha Jewellery, one of the leading jewellery chains in Chennai.

The search operation was carried out at 27 premises located