Income Tax Department Unearths Rs 700 Crore Of Undisclosed Income From Raids On Groups Running Liquor BusinessesIncome Tax Department (Facebook)

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.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Advertisement