Rs 14.5 cr seized during Income Tax raids at construction firm
Chennai, Apr 15 (UNI) The Income-Tax department officials have seized Rs 14.5 crore cash after three days of raids at the PSK Engineering Construction Company in Namakkal.
The raids, which began on Friday morning, ended on Monday morning.
The company has been involved in executing several projects for the Tamilnadu government.
The raids included company owner P S K Periyasamy’s residence and offices and those of his relatives.
IT sources said apart from cash, several incriminating documents were also seized during the raids that lasted close to 65 hours.
The officials also unearthed Rs.112 crore of unaccounted income during the searches.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
