Massive Income Tax raids at premises of Sasikala kin enters third day

Taxmen slap AP trader a big penalty of Rs 20,000 for not showing Rs 15 in GST return filing form

Chennai, Tamil Nadu, November 11: The massive Income tax raids for the unaccounted wealth of Sasikala and her relatives had entered the third day on Saturday.

The IT department is conducting raids at the premises of Jayalalithaa’s aide Sasikala and her associates and their business establishments.

According to an IT department official, the operation is still going on and a considerable amount of cash and documents have been seized from several premises.

The full volume of cash and documents seized would be known only after the completion of the raid in all the targetted premises.

There were reports that gold and other valuables have been found in form unexpected places in some premises under search.

The IT official, who did not want to reveal his identity, had refused to make any remarks on the reports about capturing a considerable quantity of gold from one of the search sites.

The search operation is going on for several places while the search was concluded in many targets, as said by a tax official.

The penalty and other charges for tax evasion would be imposed after the close analysis of the money and documents seized. If the party pays the penalty fixed by the Income Tax Department, the case would be closed in accordance with the other concerns related to the tax evasion.

The IT department has taken this stringent action against the Sasikala kin as they were indulged in tax evasion. It was found that there was a huge cash flow during the post-demonetisation period. the department also found that Sasikala and her nephew TTV Dinakaran were in close alliance with shell companies through which the cash flow was documented.

“We have information about shell companies and the search is in connection with their operations,” said an IT official.

A large team of around 1,800 IT officials, on Thursday, had started raids at about 187 premises, residences, offices, farmhouses and other establishments in search of unaccounted money and wealth.

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