According to reports, the IT department is conducting raids based on the intelligence inputs that the miners in Tamil Nadu have been exporting beach minerals despite the ban.
Chennai: Income tax officials conducted searches at 100 locations related to mining company VV Minerals, and its owner Vaikundarajan today. The searches are on at several other places across Tamil Nadu and Andhra Pradesh.
According to reports, the I-T department is conducting raids based on the intelligence inputs that the miners have been exporting beach minerals despite the ban. 400 officials have been deployed to conduct the searches.
"We have information about VV Minerals and its associate companies evading taxes and having unaccounted income. The searches are conducted only after several surveys and inquiries," senior I-T investigation officer said to TOI.
VV Minerals was established in 1989 and it is one of the largest excavators/exporters of earth minerals and garnet in India. Sources say the profits earned illegally were used to invest in factory mills, hotels, colleges, etc. The company owner, Vaigundarajan, is believed to be close to the ruling AIADMK party.
In June 2017, an IAS officer Gagandeep Singh Bedi submitted a report on illegal sand mining in Tamil Nadu. Right since April, 2017, there were quite a few reports that pointed fingers at VV Minerals.
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Last Updated Oct 25, 2018, 4:03 PM IST