Tamil Nadu: I-T dept seizes Rs 163-cr cash, 100-kg bullion after raids at a contracting firm


In one of the biggest recoveries till date, the Income Tax (IT) department has seized Rs 163-crore cash and about 100-kg gold, following raids at multiple premises of a road construction firm in Tamil Nadu.

The searches were launched yesterday at the premises of SPK and Company, a partnership firm engaged in roads and highways construction on contract from the government.

A senior official of the IT department said that the The raids are still going on.Officials said the seizure was probably the biggest so far in raid operations anywhere in the country.
The Chennai investigation wing of the IT department is conducting the operation.The Officials informed that the raids were carried out after the department found evidence of suspected tax evasion by the firm and its associates.


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