IT conducted country-wide searches at 100 stores of south India-based jewellery

Vastavam web: The Income Tax Department today conducted country-wide searches at over 100 stores and other premises belonging to two major south-India based jewellery chains on charges of alleged tax evasion, official sources said.The action is being carried out against Kerala-based jewellery group Joyalukkas and another firm connected with it.The action, they said, is aimed at checking alleged tax evasion following demonetisation in the two firms. Tax sleuths detected huge cash deposits and sale figures of gold, diamond and jewellery in their accounts.