The Income-tax Department has conducted search and seizure operations on a leading business group in Chennai. Highlights of this search operation include seized unaccounted cash of Rs. 23 crore, foreign assets to the extent of Rs.110 crore, Inflation of expenditure and bogus claim of depreciation etc. amounting to Rs. 435 crore, Capital gains amounting to approximately Rs. 280 crore etc.The Income-tax Department has conducted search and seizure operations on a leading business group in Chennai. Highlights of this search operation include seized unaccounted cash of Rs. 23 crore, foreign assets to the extent of Rs.110 crore, Inflation of expenditure and bogus claim of depreciation etc. amounting to Rs. 435 crore, Capital gains amounting to approximately Rs. 280 crore etc.taxmann.com NewsRead More
