A total of Rs 1000 crore, Rs.150 crore in the textile division, and Rs 6 crore worth of jewelry and Rs.10 crore worth of cash were seized during the raids at 37 places owned by Super saravana Stores and saravana Selvarathnam.
Income tax information stated it’s noteworthy that this test was conducted over the last four days.
It has been reported that the income tax audit is based on allegations of tax evasion and unaccounted investment.
The Super saravana Stores textile shop in chennai has several branches and is being tested in T Nagar, Purasaivakkam, Chrompet, and Porur.
The 4th-day Income Tax audit of Super saravana Stores stores and offices in chennai Purasaivakkam, Thiyagarayar Nagar, Porur, and Chrompet has been completed. It is learned that several important documents related to tax evasion and investment in gold have been seized, according to the report.


No employees have been allowed inside the store for the past 5 days. It is also being tested in the homes of the owners.
This income tax audit seems to be taking place in connection with tax evasion.
Saravana Store, which started as an ordinary utensil shop in 1969, has grown into one of the largest trading houses in Hindu tamil Nadu.
The group operates separately as saravana Selvarathnam and Super saravana Store.
In this situation, the Income Tax authorities have been conducting a surprise raid on the Super saravana Store and Super saravana Stores owned by Selva Ratnam and Rajaratnam since this morning following a complaint of tax evasion.

 More than 100 officers have been conducting raids in areas including T.Nagar, Porur, Purasaivakkam, Chrompet, and madurai since this morning.It is noteworthy that documents worth about Rs 434 crore were seized in a raid by IT officials in 2019 following a tax complaint lodged at a super saravana store company.
Customers are denied access to stores where income tax audits are conducted.
Thus customers who come to the store return with disappointment.

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D N INDUJAA

07/12/2021 02:32 PM