Income Tax Raid in Tamil Nadu: Seizure of ₹3.3 Crore Unaccounted Cash

Search Operations Conducted by the Income Tax Department in Tamil Nadu

The Income Tax Department recently executed search and seizure operations in Tamil Nadu targeting a group involved in manufacturing animal feeds, poultry farming, edible oils, and the export of egg products. This specific search was initiated on October 27, 2021, and spanned 40 locations across Tamil Nadu, Karnataka, and Kerala.

Findings from the Search Operation

During the search, authorities discovered and seized various incriminating documents and electronic data. The analysis of these materials revealed several methods employed by the group to conceal their income, including:

• Inflating expenses through bogus purchases.
• Under-invoicing sales.
• Failing to report sales from scrap or by-products in their regular accounting records.

Additionally, it was determined that the unaccounted income generated was utilized for the acquisition and construction of numerous immovable properties, as well as for covering unreported expenses.

Outcomes of the Investigation

The search operations resulted in the seizure of unaccounted cash amounting to ₹3.3 crore. Furthermore, unaccounted income exceeding ₹300 crore was identified during the investigation.

Ongoing investigations are expected to provide more insights into the group's financial activities.