Flash inspections by the enforcement wing of the Income Tax department at the showrooms of a Malappuram-based automobile dealer has uncovered financial irregularities to the tune of ₹102 crore. The inspections were held at showrooms in Thiruvananthapuram, Ernakulam, Malappuram, and Kozhikode.
Prominent film actors and a cricket player were found to be involved in suspicious vehicle purchases and sales evading tax. According to sources, luxury vehicles were purchased and sold through the dealerships without proper documents.
They said the vehicles purchased by some actors were sold back to the firm after two years of use, without involving bank transactions, thus evading tax. All suspects, including the dealer, were served notices as part of the investigation.
Published - July 06, 2024 12:05 am IST
