The income tax department on Friday launched a large-scale search and seizure operation against entities operating in the real estate, road construction and toll sectors in Indore, following inputs on suspected suppression of taxable income and unaccounted financial transactions, official sources said.
More than two dozen income tax teams, backed by heavy police deployment, carried out simultaneous searches at offices, toll booths, project sites and residential premises across the city. Investigators were scrutinising digital records, hard drives and financial ledgers to trace tax evasion, benami assets and possible hawala routing.
On Friday, searches were carried out at the Indore headquarters of a group associated with road construction and toll projects. The action covered offices, toll plazas, residences of key functionaries, and several other locations linked to the business, sources said.
The searches also included premises of a construction giant, targeting its Sapna–Sangita Road office, project locations at Bicholi Hapsi and the residences of the company’s director. Action was also initiated against entities linked to the developer, including Kannod-based developers and construction, as well as another firm, sources added.
“The operation is based on specific financial intelligence inputs. Teams are examining contract payment records, project-wise accounts, and inter-company transactions to identify any concealment of income,” a senior Income tax official told TOI, requesting anonymity as the investigation was on.
Officials said documents related to real estate ventures, infrastructure contracts, and toll collections were seized. Benami property registrations and cash-based transactions were also being investigated.
The searches were continuing and officials said forensic analysis of seized digital data and documents will determine the scale of undisclosed income and further action. The action is part of a wider crackdown on tax evasion in sectors that remain under scrutiny for cash dealings and unaccounted investments.
Source from: https://timesofindia.indiatimes.com/city/indore/i-t-searches-offices-toll-booths-houses-of-several-groups-over-suspected-tax-evasion/articleshowprint/126590603.cms
