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Tirunelveli beedi firm evades Rs 162 cr tax: I-T officials

The Income tax officials have reportedly claimed that Tirunelveli-based Syed Beedi Company has involved in tax fraud of an amount to the tune of Rs 161.56 crore. I-T sleuths conducted searches and surveys on the firm on June 28. A senior I-T official reportedly said the department seized Rs 5.74 crore in cash from more than 40 premises of the company. Stating that the findings are preliminary, the official reportedly said, “We are yet to go through all the seized documents.”

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