Income Tax probes follow DVAC sweep in Chennai's tech firm

A day after the DVAC raids, the Income Tax Department launched its own operation at a computer technology and communication company situated on TTK Road in Alwarpet, Chennai. The agency targeted five premises – in Ernavur, Alwarpet, Virugambakkam and Rajamangalam – based on allegations of irregular financial transactions with foreign entities and small Indian firms.

Armed police provided protection while tax officials examined cash, accounting books, computer records and other financial documents. Sources said the probe was triggered by complaints of tax evasion, undisclosed income and unaccounted payments. The officials indicated that the final assessment of seized assets will be released after a comprehensive review of the collected evidence.