300 crore black money of Tamil Nadu Poultry Farming Group seized

During the raid, Rs. 3.3 crore cash was also recovered

Income tax department raids 40 group premises in Tamil Nadu, Kerala and Karnataka

New Delhi: The Income-tax department raided a Tamil Nadu-based group producing animal feed and exporting egg products and found black income of Rs 300 crore, the CBDT said in a statement. The income tax department raided 40 of the group's premises in Tamil Nadu, Kerala and Karnataka. The group is also involved in poultry farming and edible oil manufacturing.

Some documents were also seized during the raid. These documents show that the company overcharged to hide its revenue. The company presented false purchase bills to show higher costs. According to the CBDT, the money from Black Income was invested in Srithar properties.

The CBDT (Central Board of Direct Taxes) is the highest decision-making body for the income tax department. Unaccounted cash of Rs 3.3 crore was also seized during the raid. Documents seized during the raid prove that the group had created a black income of Rs 300 crore.