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Coimbatore
IT raids continues in Pothys showrooms
October 20, 2016
Income Tax sleuths continued their raids at Pothys’ showrooms in the State for the third consecutive day today.
According to a department source, three showrooms in the city, besides buildings and houses belonging to the owners were brought under scanner.
A residence near Music Academy in Teynampet was also searched.
Another squad of IT sleuths has left for Coimbatore, where the company has four more showrooms. The order for the raids was given by the Central Board of Direct Tax (CBDT). The amount of cash seized has not been disclosed.
The series of events began after a special police team seized Rs. 2 crores from two employees of Pothys, who were travelling in a bus from Puducherry to Chennai, few days ago.
The police were checking buses for liquor smuggling, ahead of the by-election in the Union Territory. After initial inquires revealed that the cash was unaccounted, the police handed over the case to the Income Tax department, who proceeded with the ongoing raids.
Searches subsequently took place at the Thiruvananthapuram showroom as well.
