Chennai: Income-tax investigators on Wednesday carried out raids across the state in the premises of Kaleesuwari Refinery Oil Pvt Ltd, makers of popular refined sunflower oil branded as 'Gold Winner' for suspected tax evasion. Sources said that raids were conducted in 54 locations across Tamil Nadu, including 37 premises in Chennai. Raids were also carried out in premises belonging to the company in Dindugal and Vellore, sources said.
I-T officials said they were looking for possible tax evasion by the firm, although the company’s list of foreign debtors was said to be another issue the taxmen were focusing on. The department used more than 250 personnel to conduct searches at the 37 premises in Chennai, including the factory located in Adambakkam.
“Apart from suspected tax evasion by the company for the last three years, its export details are also being scrutinised by the IT sleuths,” sources said. The taxmen had seized a number of documents, which are to be analysed to find out probable tax evasion. It would take two more days to complete the scrutiny, sources added.
According to details available in the public domain, Kaleesuwari Refinery's group turnover is estimated to be around Rs. 3,300 crore, including trading of branded oil, which is over Rs. 2,200 crore.
