Income Tax Department probes Coimbatore-based poultry major Suguna Group for tax evasion

Income Tax sleuths have unearthed cash, bullion, cash investments in real estate and evidence pertaining to out of book sales at the Coimbatore -based Suguna Group, the Income Tax Department said.

The I-T Department initiated search operations in the group on Tuesday.

Suguna Foods Pvt Ltd (SFPL) is the group’s flagship company working in poultry business, operating out of Coimbatore with presence in 20 states, and subsidiaries in Sri Lanka, Bangladesh and Kenya.

In a press release, the I-T department said SFPL, the largest player in poultry business with turnover exceeding ₹11,000 crore, has “consistently claimed losses” in I-T returns and avoided paying taxes.

SFPL runs feed mills and in recent years has expanded its footprint in bird feed business exponentially. It has launched