Income Tax raids at Chennai jewellery shops

Chennai: Income Tax officials raided various branches of a leading jewellery shop in Chennai on Thursday, days after Akshaya Tritya, considered an auspicious period to purchase jewellery.

IT sleuths commenced raids minutes after branches of the jewellery in the city opened for business, sources said.

Following the raids, some branches announced a day off for employees, they said, adding that details of documents recovered if any was not known immediately.

The city saw a heavy rush of people to jewellery shops during the period to buy gold and silver ornaments in the belief that doing so would bring more fortune to their families.