Chennai: In a significant crackdown on tax evasion, the Income Tax department is conducting searches at multiple properties owned by Yuvraj, the proprietor of Poorvika Mobiles in Kodambakkam, Chennai. The raids, which began at 7 am today, involve over 15 officers and are being carried out at three locations, including Yuvraj’s residence and premises in Pallikaranai and Pallavaram.
#WATCH | Tamil Nadu: IT raids underway at Poorvika mobiles Founder & CEO Uvaraj Natarajan’s residence in Chennai. Further Details awaited pic.twitter.com/730XLFsbmu
— ANI (@ANI) October 17, 2024
According to sources, the investigation is based on a complaint of tax evasion and is part of a larger audit. The Income Tax department has deployed two teams, each consisting of more than 15 officers, to conduct the searches. The officials have been scrutinizing documents and records at the three locations, and the search is expected to continue throughout the day.
IT Raid: Poorvika Mobiles Owner Yuvraj Under Scanner for Tax Evasion
Poorvika Mobiles is a prominent mobile retailer with over 259 outlets across Tamil Nadu, Pondicherry, and Karnataka. Founded in 2004 by Uvaraj Natarajan and Kanni Uvaraj, the company has established itself as a major player in the mobile retail industry.
The Income Tax department has stated that the extent of tax evasion will be revealed after completing the inspection. Additionally, officials plan to inspect branches of Purvika Mobiles based on the information gathered during the investigation.
The raids are part of the Income Tax department’s ongoing efforts to curb tax evasion and ensure compliance with tax laws. The department has been conducting searches and raids across the city in recent months, resulting in significant recoveries and detections of undisclosed income.
Further details about the raids and the outcome of the investigation are expected to be revealed in the coming days.
