I-T searches in TN, K'taka and Kerala; documents seized
The Income Tax department on Wednesday conducted searches at about 80 locations in Tamil Nadu, Karnataka and Kerala in connection with its tax evasion probe against a group involved in chit fund operations.
Officials said a number of documents have been seized during the raids and bank lockers and accounts identified even as the searches on the group, identified as Gokulam, and its associates are still continuing. Efforts to reach the company, based here, over phone or email did not fructify.
No cash seizures have been made so far, they said.
The raids were conducted at about 43 locations in Tamil Nadu, 29 in Kerala and six in Karnataka apart from few others. They added that the department was acting on some "vital" inputs on alleged generation of black money by chit fund or ponzi route and hence the operations were launched early this morning. The firm is said to be involved in various sectors like education, health care and film production, they said.
Officials made it clear that the action had no political connection within Tamil Nadu or outside it.
The department here had conducted multiple searches few days back and had raided the premises belonging to Tamil Nadu Health Minister C Vijayabaskar and others, days before the April 12 bypolls at RK Nagar Assembly constituency, which have now been postponed by the EC after reports of illegal money power being allegedly used to influence the polls.