CHENNAI: The Income Tax (I-T) department conducted searches at more than 30 locations belonging to real estate promoters, government contractors and businessmen in Chennai, Coimbatore and Erode allegedly for tax evasion. Some of the companies are into commercial and residential real estate business and also undertake various projects for the state government.
I-T officials, accompanied by a team of paramilitary personnel, visited the residence of Real Value Land Promoters at Pattanam in Coimbatore on Tuesday afternoon with cash counting machines. Searches were conducted at the residence attached to the office belonging to DMK functionary Ramanathan and office of land promoters.
Another team of I-T officials conducted searches at the residence of Ramanathan’s son Sornakarthik at Ruby Garden at Sulur and the staff quarters of Real Value Land Promoters at Ramalingam Nagar at Naickenpalayam. Two teams visited the residence of Sadasivam and Balasubramaniam, both managing directors of Green Field Housing India Private Limited at Mohan Nagar and Iyappa Nagar on Kalapatti Road in Chennai.
Searches were also conducted at the residence of Saravanan from Suguna pumps at an apartment on Puliyakulam Road. Another team conducted searches at the residence of Vignesh, president of Southern India Engineering Manufacturers Association (SIEMA), on Dr Balasundaram Road in Coimbatore city.
I-T sleuths did not reveal any details about the searches carried out in Coimbatore city. However, sources claimed that the I-T department conducted the searches against the real estate promoters and pump industry sector businessmen in Coimbatore city for tax evasion. The searches were ongoing till 7.30 pm on Tuesday.