More than 20 Income Tax officials have been conducting a raid for the 2nd consecutive day at the Saravana Selvarathinam textile shop in Oppanakara Road in Coimbatore. Customers are denied access to the store due to the raid by the Income Tax Department.
Coimbatore: The Income Tax Department is conducting a raid at the Saravana Selvarathinam business in Coimbatore. It has been reported that more than 20 officers are involved in the investigation. Apart from Chennai, the company also operates jewellery, clothing, textile and home supermarkets in cities including Coimbatore, Madurai and Tirunelveli.
The Income Tax authorities have been conducting a surprise inspection since this morning following complaints of tax evasion in the Super Saravana Store and Super Saravana Stores owned by Selva Rathinam and Rajaratnam operating in various parts of Tamil Nadu. As part of this exercise, more than 20 Income Tax officials have been conducting raids for more than two hours at the Saravana Selvarathinam textile shop in Oppanakara Road in Coimbatore.
Customers are denied access to the store due to a surprise raid by the Income Tax Department. Thus, customers who visit the store return disappointed. It is to be noted that about Rs 434-crore worth of documents were seized during the raids by IT officials in 2019 following a complaint of tax evasion at Super Saravana store companies.
The Income Tax authorities have been conducting a surprise inspection since this morning following complaints of tax evasion in the Super Saravana Store and Super Saravana Stores owned by Selva Rathinam and Rajaratnam operating in various parts of Tamil Nadu. As part of this exercise, more than 20 Income Tax officials have been conducting raids for more than two hours at the Saravana Selvarathinam textile shop in Oppanakara Road in Coimbatore.
Customers are denied access to the store due to a surprise raid by the Income Tax Department. Thus, customers who visit the store return disappointed. It is to be noted that about Rs 434-crore worth of documents were seized during the raids by IT officials in 2019 following a complaint of tax evasion at Super Saravana store companies.