Income Tax Department conducted raids at more than 100 locations in Tamil Nadu and AP against Mining & Mineral Export Companies for alleged Tax evasion. As many as 130 IT Officials took part in the operation. Searches were carried out at Visakha and Srikakulam in AP and Chennai, Coimbatore, Tirunelveli, Karaikal and Tuticorin in Tamil Nadu. VV Minerals based in Tamil Nadu and Navayuga Group are among the companies which are raided Today.
Navayuga Constructions is the company which began handling Polavaram Project after MP Rayapati's Firm failed to meet the expectations after several deadlines. IT Sleuths have been collecting data related to 46 companies of Navayuga. As many as 6 Hard Disks have been seized during the raid.
IT Raids were conducted based on the IT Returns filed by Navayuga in the past four years. Navayuga is facing allegations of violating the guidelines of Registrar of Companies. IT Department focussed on the operations of Navayuga Engineering Co. LTD, Navayuga Bangalore Tollway Pvt Ltd, Navayuga Infra Projects Pvt Ltd, Navayuga Kwazigand Expressway Pvt Ltd, Navayuga Road Projects Pvt Ltd, Krishna Dredging Company Ltd, Krishna Port Company Ltd and Shubham Corporation Pvt Ltd.
Opposition Parties kept alleging that TDP Government has been favouring certain companies when it comes to offering contracts instead of conducting the tender process in an impartial manner. Navayuga obtained Polavaram Project works contract in a similar manner although other companies too were in race. And now, Income Tax officials found the operations of Navayuga Companies suspicious. What explanation does TDP Government offer to the IT Raids? As usual, Centre will be blamed for whatever might happen..isn't it?
Navayuga Constructions is the company which began handling Polavaram Project after MP Rayapati's Firm failed to meet the expectations after several deadlines. IT Sleuths have been collecting data related to 46 companies of Navayuga. As many as 6 Hard Disks have been seized during the raid.
IT Raids were conducted based on the IT Returns filed by Navayuga in the past four years. Navayuga is facing allegations of violating the guidelines of Registrar of Companies. IT Department focussed on the operations of Navayuga Engineering Co. LTD, Navayuga Bangalore Tollway Pvt Ltd, Navayuga Infra Projects Pvt Ltd, Navayuga Kwazigand Expressway Pvt Ltd, Navayuga Road Projects Pvt Ltd, Krishna Dredging Company Ltd, Krishna Port Company Ltd and Shubham Corporation Pvt Ltd.
Opposition Parties kept alleging that TDP Government has been favouring certain companies when it comes to offering contracts instead of conducting the tender process in an impartial manner. Navayuga obtained Polavaram Project works contract in a similar manner although other companies too were in race. And now, Income Tax officials found the operations of Navayuga Companies suspicious. What explanation does TDP Government offer to the IT Raids? As usual, Centre will be blamed for whatever might happen..isn't it?