Income tax department raids finance firm, gold dealer in Coimbatore
By PTI | Published: 14th March 2018 06:05 PM |
COIMBATORE: Income Tax department officials today carried out raids in four branches of a Kerala-based finance company involved in gold loan business and a gold dealer here.
The raids were conducted based on information that the dealer had transacted huge money reportedly through the Kottayam-headquartered finance firm having branches across the city during the demonetisation period, police said.
A seven-member team of I-T officials raided the office and house of the owner of the gold dealing company.
They reportedly found a large number of transactions had taken place through his account during the period when the high value currency notes were scrapped in 2016 November, they said.