I-T raids on Saravana Stores and Lotus Group in Tamil Nadu

I-T raids on Saravana Stores and Lotus Group in Tamil Nadu

The Income Tax department conducted raids on 74 locations linked to Saravana Stores and the Lotus group on Friday morning.

Seventy-two of these locations are in Chennai, and the two others are in Coimbatore.

Saravana Stores is a popular retail chain in Tamil Nadu. Its owner, Yogirathinam Pondurai, is under the I-T radar.

Sources in the I-T department said the searches were based on a tip-off reagrding tax evasion and unaccounted money.

The Saravana Stores outlet in Chennai’s Panagal Park was closed for the day.

On January 3, the I-T department raided some of Tamil Nadu’s best-known eateries, including Hot Breads, Grand Sweets and Snacks and Anjappar.

Officials said the homes and offices of directors of the food chains were being raided by a team of over 100 I-T sleuths.

[“source-indiatoday”]