Madurai, January 18: Income Tax officials today raided a chain of sweet shops of a Tirunelveli-based firm at different places and detected “tax evasion” to the tune of several lakhs.
Officials said raids were conducted at the firm’s shops, godown, office and residence of the owner in Tirunelveli and here and unaccounted money and bank documents seized.
The raids followed a secret monitoring of daily sales, which showed Income Tax paid by the firm was very low compared to its profits. The shops did business to the tune of several lakhs rupees daily, they said.
The shop had been doing business without bill. “This being Sabarimala temple season, sales had gone up by 400 per cent daily, and a lot of black money was involved,” an official said.
-Agencies