Chennai

I-T raids conducted on businessmen

The Income Tax (I-T) department on Thursday raided the properties of four businessmen after it got a tip-off on a major tax evasion.

A senior Income Tax official from the investigations wing said, “We are searching over 30 locations belonging to four businessmen — Bhrammandam, Rama Anjaneyalu, Jayaprakash and Ramamurthy. All of them are into the real estate space.”

The taxmen said that these businessmen were running several firms in the real estate and dairy sector.

Searches were also conducted at Andhra Pradesh-based Bhavya group of companies and Thirumalaivasa Milk Products Private Limited.

Directors of the company are Danda Brahmanandam and Danda Srinivas.

The raids are still on and the Income Tax officials refused to provide further details.

Article source: https://www.thehindu.com/news/cities/chennai/i-t-raids-conducted-on-businessmen/article26334100.ece

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