IT raids at chain of sweet shops in TN

Posted By: Pti
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Madurai, Jan 17 (PTI) Income Tax officials today raided achain of sweet shops of a Tirunelveli-based firm, popular forits ''halwa'', at different places and detected IT ''evasion'' tothe tune of several lakhs of rupees.

Officials said raids were conducted at the firm''s shops,godown, office and residence of the owner in Tirunelveli andhere and unaccounted money and bank documents seized.

The raids followed a secret monitoring of daily sales whichshowed Income Tax paid by the firm was very low compared toits profits. The shops did business to the tune of severallakhs rupees daily, they said.

The shop had been doing business without bill. "This beingSabarimala temple season, sales had gone up by 400 per centdaily, and a lot of black money was involved," an officialsaid.

This was perhaps the first time that the I-T officialsraided a sweet shop for tax evasion in Tamil Nadu, he said.

Tirunelveli halwa, a dish made of wheat, sugar and ghee, ispopular for its unique taste across the state sold at over 100places.

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