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City-based builder under Income Tax scanner
Income Tax investigation officials on Tuesday conducted searches at the head office of a city-based group, which includes a noted builder, located on LB Road for their business links with a Bengaluru-based Assetz Property Group in connection with suspected tax evasion, sources here said on Tuesday.
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The Income Tax Department raided a total of nine places across the country linked to Assetz group in cities including Bengaluru, Chennai and Mumbai.
“One place, belonged to the builders in Chennai, was also covered by the investigators. As many as seven places in Bengaluru were raided,” sources said.
The Chennai raids was based on the firm’s business connection with the Bengaluru group, sources in the Income Tax Department said. However, it is not yet clear what the I-T sleuths were able to recover anything from the office in Chennai.
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