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PTI Chennai
Updated: 08-12-2018 21:04 IST

Taxmen raid TN distillery, seize over Rs 54 crore cash

Chennai, Dec 8 (PTI): Income Tax sleuths Saturday seized

over Rs 54 crore of unaccounted cash during searches at

multiple premises of a leading Tamil Nadu based distillery


Acting on a tip off about suspected tax evasion and

backed up by days of spadework related to the company, income

tax officials conducted searches at 12 premises belonging to

the Director and employees of the distillery.

"Over Rs 54 crore of unaccounted cash was seized

following the searches. None of the persons from whose

premises the cash was found and seized could give any

explanation about its source.

The director has owned up the unaccounted cash," a top

tax investigation official told PTI.

Further administrative processes related to the cash

seizure is on.

The searches were launched on Friday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)