Income Tax raids at over 70 places in TN

Income Tax raids at over 70 places in TN

Income-tax raids were being conducted in Christy company in 75 places including Chennai, Coimbatore, Namakkal, Thiruchengode, Bengaluru from 7 am today.

Christy Friedgram Industry has come under the scanner for alleged tax evasion. The company has its headquarters in Tiruchengode and supplies food materials including eggs and health-mix powder for the Integrated Child Development Services (ICDS) scheme.
The raids took place simultaneously in multiple places.

Over 500 staff of the Income-Tax Department are involved in the raids, according to reports. There were allegations that the company had evaded tax running into crores of rupees.

Since 1982, this food processing company has been closely associated with the implementation of the Integrated Child Development Services.

“This company has been under our scanner after demonetisation in 2016. It has been evading tax and was not showing full income,” an I-T official was quoted as saying.

The company bagged the ICDS tender years ago and provides food items for various government schools. The company crossed a turnover of over Rs 700 crore in 2013, reports say.