<h1>Income Tax Department's March 2021 raids in Chennai uncover Rs. 1,000 crore undisclosed income in bullion and jewelry sectors.</h1> The Income Tax Department conducted searches on March 4, 2021, targeting two Chennai-based groups: a prominent bullion trader and a major South Indian jewellery retailer. The operation spanned 27 locations across several cities. Findings at the bullion trader's premises included unaccounted cash sales, bogus credits, and unexplained stock variations. The jewellery retailer was found to have engaged in cash loans, unaccounted gold purchases, and inflated wastages. The searches uncovered over Rs. 1,000 crore in undisclosed income, with Rs. 1.2 crore in unaccounted cash seized. Further investigations are ongoing.