Income-Tax raids at retailer Saravana Stores’ offices and houses

Chennai: The Income-Tax Department is carrying out raids in 74 places in Chennai and Coimbatore. According to the police, popular retail store Saravana Stores and realty business group G Square / Lotus group have come under the scanner for alleged tax evasion.

Of the 74 places, only two are in Coimbatore, the rest are in Chennai.

Officials said raids are under way at the offices and houses related to the business groups.

According to sources, the searches are being carried out due to allegation of tax evasion and hoarding of unaccounted money.

OJanuary, the I-T Department raided a number of popular eateries like Saravana Bhavan, Grand Sweets and Snacks and Hot Breads.

NT Bureau