I-T detects tax evasion of Rs 100 cr from Kerala firm

Sources said a raid was held in 35 premises, including the residence of Team Thai chairman P C Thahir.

By: Express News Service | Published: November 4, 2017 4:21 am
Income tax, IT department, tax evasion, kerala firm, IT department kerala firm, Kerala, India news, Indian express news The firm, having its corporate office in Kozhikode, has business ventures in Kerala, Tamil Nadu, Andhra Pradesh, Karnataka and Rajasthan. (Representational photo)

The Income Tax department has unearthed a tax evasion to the tune of Rs 100 crore from Kerala-based Team Thai Group, which has stake in consumer goods, logistics, plantations and mining business in many states.

Sources said a raid was held in 35 premises, including the residence of Team Thai chairman P C Thahir. The firm, having its corporate office in Kozhikode, has business ventures in Kerala, Tamil Nadu, Andhra Pradesh, Karnataka and Rajasthan. The raid, began in Monday, last for 3 days. Sources said they have examined the documents of last 6 years. “Prima facie we have arrived at the evasion to the tune of Rs 100 crore. The amount would go up when a final evaluation is made,’’ said sources.

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