I-T searches at popular restaurant chains in Chennai
TNN | Jan 4, 2019, 07:05 IST
Representative imageCHENNAI: The income tax investigation wing on Thursday searched 32 premises belonging to restaurant chains Saravana Bhavan, Hot Breads, Anjappar and Grand Sweets and Snacks. An income tax source said the officials had detected discrepancies in their tax returns.
“We have been watching these restaurants for the past few months. We did a survey based on the returns they filed with the I-T department. After gathering enough evidence, we decided to conduct searches to check for suppression of income,” said a senior official adding that more than 100 I-T officials were involved in the searches.
The searches are likely to continue till Friday evening, sources said. Phone calls made to Saravana Bhavan head office in Vadapalani and Anjapper office in T Nagar went unanswered.
“These companies were showing high turnover, but low profits. Under the Income Tax Act we have powers to conduct surveys and searches if we don’t get satisfactory answers to the queries we raise about the claims made in the tax returns,” said the official.
“We have been watching these restaurants for the past few months. We did a survey based on the returns they filed with the I-T department. After gathering enough evidence, we decided to conduct searches to check for suppression of income,” said a senior official adding that more than 100 I-T officials were involved in the searches.
The searches are likely to continue till Friday evening, sources said. Phone calls made to Saravana Bhavan head office in Vadapalani and Anjapper office in T Nagar went unanswered.
“These companies were showing high turnover, but low profits. Under the Income Tax Act we have powers to conduct surveys and searches if we don’t get satisfactory answers to the queries we raise about the claims made in the tax returns,” said the official.
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