CHENNAI/NEW DELHI: The Income Tax Department today recovered Rs 100-crore cash and about 90-kg bullion after raids at multiple premises of a road construction firm in Tamil Nadu, officials said.
The searches were launched on the premises of Ms SPK and Company, a partnership firm engaged in road and highway construction, on contract from the Government.
“About Rs 100 crore cash, which is suspected to be unaccounted, and bullion and gold jewellery weighing about 90 kg has been recovered so far. The raids are still on,” a senior official said in Chennai.
The Chennai investigation wing of the department is conducting the operation.
The raids were conducted after the department found “evidence of suspected tax evasion by the firm and its associates”, who also have political links, he said. (AGENCIES)