Income Tax officials raided two firms into jewellery business for suspected tax evasion. The searches and survyes are being done in Bengaluru, Mysuru and Mumbai as part of the raids.
According to I-T department sources, the raids were conducted n C Krishnaiah Chetty & Sons, which has a chain of jewellery stores and one Vijaya Gems and Jewels. Sources said that in connection with these two, entities searches and surveys were also done on another business entity Lakshmi Gold Palace, owned by businessman and BJP Leader K P Nanjundi.
The I-T officials said that there were 22 searches and 10 surveys in Bengaluru in connection with C Krishnaiah Chetty & Sons while 13 searches and four surveys in Mysuru, Bengaluru and Mumbai in connection with Vijaya Gems and Jewels. The I-T officials were tight-lipped about the searches, but said that the searches may continue for a day or two.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks