I-T dept detects Rs 80 crore unaccounted income of Chennai-based PPE kit supplier

The Income Tax department has detected unaccounted income of Rs 80 crore of a Chennai-based firm involved in the business of supplying PPE kits to state governments

The Income Tax (I-T) department has detected an unaccounted income of Rs 80 crore of a Chennai-based group involved in the business of supply of PPE kits, bags and baby care kits to state governments, officials said. The search and seizure operation was initiated by the I-T department on March 17. Searches were conducted at eight premises in Tamil Nadu's Tiruppur, Dharapuram and Chennai. “The searches on the business group, engaged in yarn trading and supply of PPE kits, bags and baby care kits to various state governments, revealed that the group is engaged in the practice of suppressing profit by inflating purchases and other expenses,” the I-T officials said.