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of <h1>Income Tax Raids Uncover Rs. 500 Crore Undisclosed Income in Tamil Nadu; Bogus Purchases and Expenses Exposed.</h1> The Income Tax Department conducted search and seizure operations on July 6, 2022, targeting two business groups in Tamil Nadu involved in civil contracts, real estate, and advertising. Searches at over 40 locations in Chennai, Coimbatore, and Madurai revealed incriminating evidence of tax evasion through bogus purchases and expenses. One group was found to receive cash payments for fake purchases, while the other created bogus entities for false expenses. Secret hideouts for unaccounted transactions were uncovered, and undisclosed income exceeding Rs. 500 crore was detected. Investigations are ongoing.
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