He said the department waited for individuals and companies associated with Sasikala to file their tax returns for the last fiscal, adding that searches were carried out to detect tax evasion based on the filings and the data with the Income Tax Department. The present estimate was given on 13 November, after there has been speculation that the raids have not been able to find out anything worthwhile and hence there was silence. I-T investigation wing officials took Vivek to their Nungambakkam offioce around 6pm for questioning.
According to reports, the IT sleuths have seized Rs 7.14 crore in cash and jewellery valued at Rs 5 crore. The officials also found large-scale immovable assets during the operation. These companies have been floated by the family members of Sasikala and have been working on a minimum capital. It has been found out that Sasikala and family have evaded taxes amounting to Rs 1,000 crore, reported The Asian Age.
About possible freezing of some bank accounts, primarily related to shell companies, he said that process is also being done.
The raids began on Thursday with a team of around 1,800 IT officials simultaneously raiding 187 locations belonging to relatives of Sasikala - who is now lodged in the Parapana Agrahara central jail, her nephew TTV Dinakaran and their business associates in several cities. But, very significantly, the channel turned into a bitter critic of the E Palaniswami government after the rift with the rebel group led by O Panneerselvam was sealed.
The offices of AIADMK mouthpiece Jaya TV, which is run by people said to be loyal to Sasikala, houses and offices of Sasikala's nephew Vivek Jayaraman and his sister, Sasikala's husband M Natarajan's house in Thanjavur, and Sengamalathaayar College in Thanjavur, owned by Sasikala's brother Divakaran, were among the 100-odd premises raided since Thursday morning.
Chipotle Mexican Grill (NYSE:CMG) Receiving Somewhat Positive Media Coverage, Study Finds
Other analysts have also issued research reports about the company. 30,800 were accumulated by Stevens Cap Ltd Partnership. Since May 19, 2017, it had 5 buys, and 0 insider sales for $329,126 activity. (NASDAQ:ELGX) on Friday, May 19.
"The volume and value of cash and documents seized would be known only after they are totalled after completing the entire operation", the IT official, who did not want to be identified, had told IANS on Friday.
The official said that tax demand would be raised after analysing the documents and obtaining clarifications.
Reports said gold and valuables have been found in unexpected places in some premises under search.
The Income Tax department has, however, denied any political links and claimed the raids to be a part of the "clean money drive".