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Rs 80 crore unaccounted income detected by I-T dept, Rs 11.5 crore seized

The Income Tax Department detected unaccounted income worth Rs 80 crore and seized Rs 11.50 crore

Published: 20th March 2021 05:54 AM  |   Last Updated: 20th March 2021 05:54 AM   |  A+A-

Cash; Capital; investment

(Representational Image)

By Express News Service

CHENNAI: The Income Tax Department detected unaccounted income worth Rs 80 crore and seized Rs 11.50 crore during search operations carried out on a business group engaged in yarn trading and supply of PPE kits, bags and baby care kits to various State governments.

The searches, which were conducted in eight premises in Tirupur, Dharapuram and Chennai on Wednesday, revealed that the group is suppressing profit by inflating purchases and other expenses, according to Central Board of Direct Taxes (CBDT) spokesperson. 



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