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7 Nov 2020

Black Money Worth Rs 1000 Crores Recovered In Searches In Chennai And Madurai

Reports have been coming in from the Central Board Of Direst Taxes (CBDT) which has confirmed that have searched and raided many locations in Chennai and Madurai For black money.

As per reports coming up in the search that has led to the detection of unaccounted income of around Rs1000 crores.

Out of which, disclosure of additional income of Rs 337 crores has already been made by the assessee, besides actionable issues under Benami & Black Money Acts.

Income Tax Department has carried out these searches at five locations in Chennai and Madurai on November 4 in the case of a Chennai based group operating in IT Infra sector.

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