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I-T dept conducts searches at premises of real estate group

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Tax collection jumps 18% to Rs 7,100 crore in NE in FY18: Minister

During the same fiscal, the Income Tax Department has brought 1.89 lakh more people under the ambit of tax net

The Income Tax department today conducted searches at the premises of a real estate group and its associates in Bhopal, Indore, and Bengaluru for suspected tax evasion, an official said here.

"Searches were conducted at 30 premises of Asnani Group and its 12 associate companies at Bhopal, Indore, and Bengaluru," Income Tax Investigation wing (MP and Chhattisgarh region) Principal Director RK Paliwal told reporters in Bhopal.

He said searches are being conducted at 26 places in Bhopal and at two places each in Indore and Bengaluru.

"Entire operation will be over within three days," the officer said.

In Bhopal, the searches were conducted at at least ten houses of the officials of the group, Paliwal said.

At other places, searches were carried out at the offices as well as residences of the group officials, he said.

The group has its main office in Bhopal. Over 150 Income Tax officials were involved in the searches which are likely to continue for a few more days, another official said.

The searches followed a complaint filed against the group and its associate companies accusing them of evading tax.

Asnani Group officials could not be contacted for a comment despite several attempts.

As per the company website, the Asnani Group, founded in the year 1990, has multi-disciplinary presence.