The Income Tax Department has reportedly unearthed tax evasion of Rs 1,430 crore during its raids spread over five days at the premises of jailed AIADMK leader V K Sasikala’s kin and their business associates.
“We have found tax evasion of Rs 1,430 crore, as of now. This figure is likely to go up as we have also seized incriminating documents. We have seized Rs 7 crore in cash, and gold jewellery worth around Rs 5 crore,” a senior official was quoted as saying.
Over the last five days, income tax officials said they had raided 10 “assesse groups” at 187 locations across Tamil Nadu, Andhra Pradesh, Puducherry and Delhi over suspected tax evasion.
Officials also say they have identified several shell companies floated by the family members of Sasikala, an aide of former Tamil Nadu Chief Minister J Jayalalithaa who died last year.
They have also found a huge number of incriminating documents which are yet to be studied in detail.
There is speculation that either the IT department has found nothing substantial which is why they have maintained silence on the operation or that the department was still deciphering the documents they have unearthed.
Monday evening, IT officials told journalists that Rs 1430 crore unaccounted wealth had been found, but there was still no official statement.