Touted as the biggest action ever by the Income Tax department, the raids on expelled AIADMK leader V K Sasikala’s family members and aides, which started on Thursday, are expected to end today.
According to sources, many shocking details have emerged during the searches, conducted at 187 places in Tamil Nadu and other states.
If reports are to be believed, the raids yielded cash, gold and documents relating to investments worth Rs 1,200 crore of unaccounted money.
“We froze 100 bank accounts after we found that they belong to 20-odd shell companies. Crores of rupees were deposited in them soon after demonetisation was announced last year,” officials were quoted as saying.
Quoting sources, reports said the I-T department waited for the individuals and companies associated with Sasikala to file their tax returns for the year. Based on the filing and the data with the IT department, the searches was carried out to detect tax evasion.