CHENNAI: The source of revenue tax division has found a complete of Rs 433 crore unaccounted cash and seized Rs 25 crore in money, 12kg gold and 626 carats diamonds all through 9 days of searches on the premises of Saravana Stores Bramandamai, GSquare and Lotus Company and flats in their homeowners in Chennai and Coimbatore.
The searches started in 72 puts in both the cities on January 29 and concluded on February 6.
Sources stated the department had found dealings of Saravana Stores Bramandamai proprietor Yogarathinam Ponduari with the two realty corporations (GSquare and Lotus Company). Unaccounted cash was invested via Pondurai in those corporations, a senior I-T investigation wing respectable stated.
“We had information about tax evasion via the two corporations as well as Saravana Stores. We needed to seek all the floors of multi-storey Saravana Stores constructions. That is why it took so many days to finish the searches,” stated the respectable.
In the coming days, Pondurai and the homeowners of the two corporations could be summoned for wondering, he stated.
The searches started in 72 puts in both the cities on January 29 and concluded on February 6.
Sources stated the department had found dealings of Saravana Stores Bramandamai proprietor Yogarathinam Ponduari with the two realty corporations (GSquare and Lotus Company). Unaccounted cash was invested via Pondurai in those corporations, a senior I-T investigation wing respectable stated.
“We had information about tax evasion via the two corporations as well as Saravana Stores. We needed to seek all the floors of multi-storey Saravana Stores constructions. That is why it took so many days to finish the searches,” stated the respectable.
In the coming days, Pondurai and the homeowners of the two corporations could be summoned for wondering, he stated.
I-T dept reveals seizures from Saravana Stores
![I-T dept reveals seizures from Saravana Stores]()
Reviewed by Kailash
on
February 07, 2019
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