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I-T raids Saravana Selvarathinam in Tamil Nadu
More than a 100 of the I-T officials conducted searches at more than 20 premises in the districts of Chennai, Tirunelveli, Madurai and Coimbatore from Wednesday morning. The search operations included eight places in Chennai. “The searches have not concluded and it will continue on Thursday,” said the official requesting anonymity.
A senior official of the Income Tax (I-T) department in Chennai said on suspicion of tax evasion, the department on Wednesday raided various premises of Saravana Selvarathinam which has six stores across Tamil Nadu.
More than a 100 of the I-T officials conducted searches at more than 20 premises in the districts of Chennai, Tirunelveli, Madurai and Coimbatore from Wednesday morning. The search operations included eight places in Chennai. “The searches have not concluded and it will continue on Thursday,” said the official requesting anonymity.
The retail chain of stores primarily caters to the lower and middle income group.
According to their website, their showrooms sell textiles, jewellery, vessels, water, sweets and a host of other products, at affordable prices. It is a major shopping hub in Chennai with four out of the six stores present in the city such as in T Nagar and Purasawalkam. Customers couldn’t enter the stores on Wednesday due to the on-going raids when business had to stop.
The department has not released a statement following the raids on Wednesday.
