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.