• Download mobile app
25 Feb 2018, Edition - 957, Sunday

FLASH NEWS:

  • Actor Sridevi passes away at 54 after a cardiac arrest in Dubai
  • Plea filed in court for FIR against Salman Khan
  • India has been ranked 81st in the global corruption perception index for the year 2017
  • Three bombs exploded in different locations in Rakhine’s state capital Sittwe on early Saturday morning
  • Mehul Choksi issues statement saying that he has no money to pay salary to employees

Kerala News

IT attaches assets of Sreevalsam Group for tax evasion

Covai Post Network

Kochi: In a suspicious case of tax evasion, the Income Tax Department today attached the assets of Sreevalsam Group. The action was taken as group owner M K R Pillai defaulted paying tax and fine of Rs 288 crore.

Thirty six assets of the group have been attached.

Under the recently amended IT act, this is the first action against suspected tax evasion in Kerala. The attached assets are registered under eight sub-registrar offices in Kerala and in Bengaluru.

The other owners are Pillai’s wife Valsala and sons Arun Raj and Varun Raj. The IT officials also found Pillai transferring huge amount of money to Kerala through benami account.