IT Dept Reveals Rs 220 Cr Unaccounted Money Of Chennai's Tile Maker

The Income Tax Department has raided the premises of a reputed Chennai-based tile manufacturer recovering undisclosed income worth Rs 220 crore. In the search and seizure drive launched in Tamil Nadu, Gujarat, and Kolkata based facilities, the IT department seized Rs 8.30 crore. While over 50% of unaccounted money was found to be stored in a cloud storage system, the CBDT suspected its use in influencing voters in the upcoming polls.