The Income Tax department has not come to any conclusion regarding the source of Rs 4.77 crore cash seized from a businessman at Karur, ahead of the May 16 Tamil Nadu Assembly election, sources said here today.
Amid reports in some television news channels over the source of the money seized in the run-up to the polls, IT department sources told PTI that they had "not yet come to any conclusion and it was too early for that".
Ahead of the Assembly election, IT and election officials had seized Rs 4.77 crore, 11 cash-counting machines and a fake currency note detector, apart from Rs 10.33 lakh from the parking shed of Anbunathan, a Karur-based businessman.
Recently, the IT authorities had also raided the premises of former AIADMK minister Natham R Viswanathan and Vetri, son of city Mayor Saidai Duraisamy, to investigate suspected tax evasions.
They had said the searches were carried out on the basis of "material evidence" collected during the raid at Anbunathan's premises.
Maintaining that establishing the source of the money seized was a process involving "difficulties", the sources said steps such as gathering evidence was on.
"Anbunathan has claimed that the money seized was his. We will take our own view on the matter," the sources said, adding, "We are raiding various places to collect evidence. The process is still on.
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