CHENNAI: The Income Tax (I-T) department conducted searches at over 30 locations belonging to real estate promoters, government contractors and businessmen in Chennai, Coimbatore and Erode for alleged tax evasion. Some companies are into commercial and residential real estate business and also run various projects for the state government.
Income Tax officials along with a team of paramilitary personnel along with cash counting machines visited the residence of Real Value Land Promoters in Pattanam, Coimbatore on Tuesday afternoon. Searches were conducted at the office of DMK functionary Ramanathan and the residence attached to the office of land promoters.
Another team of IT officials conducted searches at the residence of Ramanathan’s son Sornkarthik at Ruby Garden in Sulur and the staff quarters of Real Value Land Promoters at Ramalingam Nagar in Naikenpalayam. The two teams visited the residence of Sadasivam and Balasubramaniam, both managing directors of Green Field Housing India Private Limited, at Mohan Nagar and Ayyappa Nagar on Kalapatti Road in Chennai.
Searches were also conducted at the residence of Saravanan from Suguna Pumps in an apartment on Puliyakulam Road. Another team conducted searches at the residence of Vignesh, president of Southern India Engineering Manufacturers Association (SIEMA), on Dr. Balasundaram Road in Coimbatore city.
IT officials did not give any details about the searches conducted in Coimbatore city. However, sources claimed that the Income Tax Department conducted searches against real estate promoters and pump industry sector businessmen in Coimbatore city on tax evasion charges. The search was continuing till 7:30 pm on Tuesday evening.
