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I-T searches 130 premises of south India-based jewellery

Press Trust of India  |  New Delhi/Chennai 

The Department today conducted country-wide searches at over 100 stores and other premises belonging to two south-based chains on charges of alleged evasion, official sources said.

The action is being carried out against Kerala-based group and Manjali jewellers, I-T sources said.

"The searches are in progress," a 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, and West Bengal, the sources said.

The action, they said, is aimed at checking alleged evasion, following demonetisation, in the two firms.

Sources said the was investigating the "business" links between the two groups also, as part of the action.

Tax sleuths had allegedly detected huge and sale figures of gold, diamond and in their accounts.

The wing of the department is coordinating the nation-wide action, involving over 100 tax sleuths and a number of police teams, sources said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 20:50 IST