The Income Tax Department has carried out searches on 20 premises in Chennai, Coimbatore, Salem, Virudhunagar and Theni in the poll-bound Tamil Nadu.

"The Income Tax Department carried out searches on 11.03.2021 in the case of a group of individuals who are involved in handling huge amount of cash and routing unaccounted money through foreign entities and bank accounts of their related concerns. The search operation was carried out at 20 premises located in Chennai, Coimbatore, Salem, Virudhunagar and Theni," read a press statement from the Central Board of Direct Taxes.

The evidence found in the searched premises revealed that cash deposits of more than Rs 100 crore were made through various entities in the guise of sale and purchase of agricultural commodities whereas no such activity exists and no stock was found. The sale and purchase invoices were found to be fabricated by their employees. Further, sales and stock were circulated among group entities to manipulate the turnover to obtain bank loans. Many of these entities had not filed any tax return so far.

Earlier, this month, on March 3, The IT Department carried out search and seizure operations on two groups of civil contractors in Southern Tamil Nadu. Searches and surveys were conducted in 18 premises mainly in Madurai and Ramnad districts.

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