CHENNAI: The income tax department has launched search and survey operations in three companies owned by a highway contractor in Chennai.
The searches started in the companies situated in Ashok Nagar area on Wednesday night following information of undervaluing property while registering it, concealment of income and tax evasion.”The searches started on Wednesday night following information on Gurumurthy Engg Enterprises, GG Infrastructures, and Thiagarajan Enterprises,” a senior IT official told TOI.
The three companies are involved in many of the highway contracts including laying of roads and culverts. “We came to know about registration of a property worth more than Rs 20 crore. However, its worth was shown as Rs 10 crore in the documents. Based on this, we have conducted inquiries and found the owner to have concealed income to the tune of several crores of rupees. We are yet to tabulate the documents and seized items,” said the official.
TOI’s efforts to contact the owner of the companies went in vain.
Tamil Nadu chief minister Edappadi K Palanisami is in charge of the highway department. He has been holding the portfolio for the last six years.