The Income Tax (I-T) Department on Tuesday conducted raids/searches at 20 locations of real estate major Hiranandani group in connection with alleged tax evasion. Raids were also conducted at the residential premises of top company officials.
According to I-T sources some alleged mismatch on Tax Deducted at Source (TDS) receipts related to payments made were also being verified during the operations. Officials of I-T conducted raids at many locations of the group in Mumbai, Bangalore, Chennai and Hyderabad.
“The raid is continuing. I am not able to comment on this stage,” said a top I-T officials
The source said some documents of accounts and transactions have been seized in the operation that was underway several hours after it started.
Hiranandani group is top real estate player in Mumbai. Few years back, the CBI had also raided the offices and other premises of Hiranandani for alleged provident fund evasion to the tune of Rs 168 crore.