Income Tax Department conducts searches in Tamil Nadu on animal feeds

New Delhi, India: In the case of a group involved in the manufacturing of animal feeds, poultry farming, edible oils, and the export of egg products, the Income Tax Department conducted search and seizure operations in Tamil Nadu. The group's search operation began on October 27 and covered 40 locations in Tamil Nadu, Karnataka, and Kerala.

"Several incriminating documents and materials in the form of electronic data were discovered and seized during the search operation. These seized documents show that the group is suppressing its revenue in a variety of ways, including inflating expenses by booking bogus purchases, under-invoicing sales, and not reflecting scrap/by-products sales in the regular books of accounts. Unaccounted income has been invested in the acquisition and construction of various immovable properties, as well as incurred in meeting unaccounted expenses, according to the analysis of seized documents "read the official press release

The search operation resulted in the seizure of Rs 3.3 crore in unaccounted cash and the discovery of unaccounted income totaling more than Rs 300 crore. More research is being carried out.

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