IT Dept raids Utkal Builders over tax evasion allegations
The Income Tax Department launched extensive raids on the offices and premises of Utkal Builders in connection with alleged tax evasion
Bhubaneswar: The Income Tax Department on Tuesday morning launched extensive raids on the offices and premises of Utkal Builders in connection with alleged tax evasion.
As per preliminary reports, a total of 18 teams comprising of 120 officers and staff members from the Income Tax Department have been conducting the raid.
The searches began early this morning and were carried out simultaneously at several locations associated with the group, including its corporate office, residential premises of key directors, and other business sites in and around the state capital.
The searches are being carried out under the supervision of senior IT officials after the department received credible inputs suggesting large-scale discrepancies in financial records and possible tax irregularities in Utkal Builders’ transactions.
Preliminary reports suggest that officials have seized several important documents and financial records during the ongoing searches.
