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Chennai
Premises of businessmen searched
Special Correspondent
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They were engaged in real estate business
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CHENNAI:
The Income Tax department on Tuesday conducted searches on four premises in cases against three persons engaged in real estate business. Three other business premises were surveyed under the Income Tax Act.
According to a release, G. Gajendran, R. Pandurangan and R. Mahalakshmi were engaged in real estate business in Chennai in the name of Vinoth Builders and Vinoth Promoters and Developers Pvt. Ltd, operating from Perambur High Road, Perambur. They were also running a function hall at Madhavaram and a rice mill at Athur, in Tiruvallur district. The department personnel conducted searches on three residential and one business premises.
Evidence for suppression of actual receipts from the sale of flats, receipts from function hall and payment of on-money for acquiring land was gathered.
Bank lockers detected
Five bank lockers and several bank accounts belonging to the three persons were detected. The contents were being verified and further investigation was on. Quantification of the undisclosed income was yet to be made, the release said.
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