The Income Tax (I-T) Department has detected undisclosed income worth over Rs 650 crore linked to the Cafe Coffee Day group after four-day raids, according to a report in The Times of India.
The I-T department expects the undisclosed income figures to be higher, the report states.
Search operations was conducted at premises of Cafe Coffee Day and its group companies across 25 locations in Bengaluru, Chikmaglur, Mumbai and Chennai, including the residence of Chairman and Managing Director V G Siddhartha.
Siddhartha is the son-in-law of Congress veteran and former Karnataka Chief Minister SM Krishna who joined the BJP in March this year.
One of the I-T teams raided Cafe Coffee Day's headquarters in Bengaluru, and Siddhartha's residence in Bengaluru's upscale locality of Sadashivanagar.
Other raids were carried out the Coffee Day Global Limited office located at Chikkamagaluru, two of its coffee estate offices, a residential school office and the Serai Resorts.
--------------------------------------------------------------
Subscribe our blog : TAX CORNER
--------------------------------------------------------------
Posts
Tax Corner media is online news portal for the purpose of sharing valuable information about the Income Tax, Goods and Service Tax, Company Law, Digital India, Banking Sector, Accounting and Finance Services.
Our mission is to Simplify the Tax Laws and provide latest information to the all. If you have any knowledgeable information and want to share with us, we are happy to sharing here.
Thanks for Visit.
No comments:
Post a Comment