<h1>Income Tax Department Uncovers Rs. 400 Crore Evasion by Chennai Industrial Group; Seizes Cash and Gold in Raids.</h1> The Income Tax Department conducted search and seizure operations on June 15, 2022, targeting a prominent industrial group in Chennai involved in various sectors including manufacturing, logistics, and hospitality. The operations spanned over 40 locations across Chennai, Villupuram, Puducherry, Coimbatore, and Hyderabad. Evidence seized suggests the group engaged in tax evasion exceeding Rs. 400 crore through non-genuine purchase bills. Payments to suppliers were reportedly returned in cash for unaccounted investments. Additionally, the group managed back-office operations for its international hotel chain from India. The search resulted in the seizure of Rs. 3 crore in cash and Rs. 2.5 crore in unaccounted gold jewelry. Investigations continue.