Insta
Income Tax Department Unearths Rs 700 Crore Of Undisclosed Income From Raids On Groups Running Liquor Businesses
Swarajya Staff
Aug 11, 2019, 05:17 PM | Updated 05:17 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The Income Tax Department has unearthed undisclosed income worth Rs 700 crore after search and seizure operations conducted at several locations, reports Asian News International (ANI).
All the locations where operation was carried out belonged to groups associated with the liquor business. The raids were carried out at 55 locations on the very same day across Tamil Nadu. Other raids took place in Goa, Kerala and Andhra Pradesh.
The entire operation was carried out on the basis of credible intelligence on massive tax evasion gathered by the authorities over a period of several months.
It was discovered during these raids that another liquor group was involved in similar tax evasion practices. Raids were therefore conducted at the new lead location on 9 August. A total of seven locations belonging to this lead business group were raided leading to recovery of Rs 300 crore approximately, taking the overall recovery in the operation to Rs 700 crore.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.