Kochi: Income Tax sleuths raided a jewellery firm unearthing alleged significant tax evasion and large-scale money laundering, media reports said.
The Income Tax Department has allegedly unearthed huge tax evasion by the firm across Kerala, the reports said.
The Income Tax Investigation wing has carried out inspections at 30 stores in the state.
The agency accused the firm of operating a money chain model, accumulating huge amounts of money.
Shockingly, none of these transactions were recorded in the company’s income tax returns, the reports said.
IT raids at jewelry firm
