In unprecedented searches across multiple cities, Income Tax Department sleuths have unearthed undisclosed income of Rs 1,430 crore in respect of 10 assessee groups. These groups are reportedly linked to jailed AIADMK leader V K Sasikala, her kin and their associates. “A lot of incriminating documents were found and prima facie we have detected undisclosed income of Rs 1,430 crore,” an official was quoted as saying. The official said the undisclosed income was in respect of the 10 assessee groups, which includes Jaya TV and Midas Distilleries that are reportedly linked to Sasikala.
The searches had commenced on November 9 and went on for five days.
The searches were carried out in Chennai, Bengaluru, Hyderabad and a number of other locations in Tamil Nadu.
The raid on 187 locations was conducted by over 1,000 officials, who split into over a dozen teams on day one of the searches on November 9. Backed with inputs, including those from the Finance Ministry’s Financial Intelligence Unit, the raids were being conducted.
The allegations included suspicion of shell companies, dubious investments, suspicious fund flow and its transfers and fudging of accounts.
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Dubbing the searches a “conspiracy”, deposed AIADMK deputy General Secretary T T V Dhinakaran had alleged it was to oust him and his jailed aunt from politics.
It has been learnt that 15 bank lockers were frozen and several kilograms of gold and diamond jewellery were kept for evaluation.
Documents of properties, which were seized, allegedly belong to Sasikala’s nephew and Jaya TV CEO Vivek Jayaraman, his sister Krishna Priya and their auditor.
Stating that Rs 30 crore of undisclosed income was “detected already”, the Chennai-based official said a “lot more materials” are being looked into. To a question on the nature of undisclosed income, he said this relates to unexplained cash and unexplained cash introduced for acquiring several businesses.