https://www.taxtmi.com/news?id=24630 A targeted search and seizure operation against a business group in Tamil Nadu uncovered electronic evidence showing systematic income suppression through inflated expenses, alleged bogus purchases, under invoicing of sales and omission of scrap/by product sales. Analysis indicates unaccounted income was invested in immovable properties and used for unrecorded expenditures; substantial unaccounted cash was seized and significant unreported income was detected. Investigations are ongoing to verify and quantify the tax and regulatory implications. en-us Tue, 02 Nov 2021 14:19:33 +0530 Tue, 02 Nov 2021 14:19:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24630 A targeted search and seizure operation against a business group in Tamil Nadu uncovered electronic evidence showing systematic income suppression through inflated expenses, alleged bogus purchases, under invoicing of sales and omission of scrap/by product sales. Analysis indicates unaccounted income was invested in immovable properties and used for unrecorded expenditures; substantial unaccounted cash was seized and significant unreported income was detected. Investigations are ongoing to verify and quantify the tax and regulatory implications. News - Tue, 02 Nov 2021 14:19:33 +0530 https://www.taxtmi.com/news?id=24630