`200 crore in tax evasion found in research | Indore News

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Indore: A preliminary investigation of financial transactions and data collected during research carried out by the income tax department of a group of Delhi-based property developers with a presence in Indore revealed tax evasion of Rs 200 crore, according to official sources.
Search operations at three premises in Indore entered day two on Tuesday and the investigation team seized Rs 1.75 crore and a locker during the operation.
A total of over Rs 20 crore has been seized by the investigative team so far in the searches with a major seizure at the offices and residential premises of the group’s senior management in Delhi.
Computer sleuths had searched about 45 locations in Delhi, Lucknow, Noida, Chandigarh, Faridabad and Indore, among others.
“Apart from various crucial documents, financial transactions and data, 25 lockers belonging to different people associated with the leadership group were also seized,” an official source said.
Research is likely to extend by looking at the amount of tax evasion by the real estate group. In Indore, the investigation at the official and residential premises is still ongoing and Rs 1.75 crore and a locker have been recovered, the sources said.
The investigation involving nearly 300 IT managers and CRPF staff is led by the additional director of investigations, Chandigarh Ankur Alya, and the co-director, Chandigarh, of the IT department Ashwin S.
The raids in Indore were part of a pan-India operation by the income tax department over alleged irregularities in the book of accounts and concealment of income by the Gurgaon-headquartered property group.


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