For the third consecutive day on Saturday, Income Tax (IT) officials continued their raids at several premises. The present estimate was given on 13 November, after there has been speculation that the raids have not been able to find out anything worthwhile and hence there was silence. In all, 355 people have so far come under the I-T scanner in this round of searches.
A top tax investigation official in Chennai said that more than Rs 7 crore in cash and jewellery worth over Rs 5 crore were seized during the searches. These companies have been floated by the family members of Sasikala and have been working on a minimum capital.
After analysis of the documents seized and clarifications obtained, tax demand would be raised and if the party pays the tax amount, including the penalty, the case would be closed depending on the other issues connected with the evasion, an official told IANS.More news: Huntington National Bank Raises Position in Digital Realty Trust, Inc. (DLR)
The raids began on Thursday with a team of around 1,800 IT officials simultaneously raiding 187 locations belonging to relatives of Sasikala - who is now lodged in the Parapana Agrahara central jail, her nephew TTV Dinakaran and their business associates in several cities.
Bank accounts to those shell companies have been frozen - massive sums of money were deposited in them post demonetisation.More news: Investors bid down TJX Companies after earnings
Income Tax (I-T) department sleuths carried out simultaneous multi-city raids on 187 premises last week, including those linked to Sasikala and her nephew and deposed AIADMK general secretary TTV Dhinakaran and Tamil television channel Jaya TV over suspected tax evasion. It has been alleged that he had used coercion to buy Jazz Cinemas, which was earlier known as Luxe Cinemas.
According to the Newspaper,"We have kept them on stand-by mode, awaiting orders to move into the bungalows", said an official.Several documents and Rs19 lakh were seized from the family-owned Midas Distilleries on the outskirts of Chennai. A team, consisting of three members, are reportedly verifying the documents with regard to the Kodanadu Estate and also the 670-acre Green Teas estate in Curzon, said to be purchased by late chief minister Jayalalithaa and her aide VK Sasikala some five years ago.
Reports said gold and valuables have been found in unexpected places in some premises under search.More news: Euro area GDP picks up slightly in third quarter
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