The search on a city-based businessman and an associated builder and educationist continued for the second day as income tax department (I-T) teams are believed to have seized documents and records of financial transactions from their commercial and residential properties.The businessman, believed to be close to the kin of a prominent politician from Gujarat, has interests in pharmaceuticals, real estate, finance and the food business. The I-T department has remained tight-lipped about thesearch, as further details are likely to emerge later this week.Another search ahead of the festivities on real estate developers yielded records of transactions worth crores and overseas transactions which are currently under the scanner, sources said. tnn
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Income tax searches continue in properties linked to Tamil Nadu minister E V Velu
Income tax officials are carrying out searches for the second day in locations associated with Tamil Nadu public works and highways minister E V Velu. The searches are being conducted in Chennai, Tiruvannamalai, Karur, Coimbatore, and Ramanathapuram. The Arunai Educational Group, which belongs to Velu’s family, is also being searched. The investigation is focused on cash transactions between the minister and real estate developers, as well as cash fee collections from students. The searches are expected to continue for another two days before any official seizures are made.
Tax searches on Cong leaders, kin in Hyd yield Rs 3 crore cash
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