"We held an enquiry last night. Following that we begun the searches this morning. Searches are on at Chennai, Coimbatore and Puducherry in a total of nine premises," a top Income Tax official told PTI.
He said the raids are "likely to continue tomorrow as well."
To a question, he said data related to sale, stocks, investments and properties were being verified.
Stating that officials were on the job "holding searches and verifying documents," he said no conclusion could be made at this stage on questions like tax compliance and suspected tax evasion.