GG News Bureau
Noida, 5th Jan. The Income-Tax department conducted searches on Thursday on major real estate groups based in Noida, Uttar Pradesh. This investigation is part of an effort to uncover tax evasion, according to official sources.
The tax department raided the premises of realty groups such as Bhutani Infra, Group 108, Logix, and other companies. The searches took place in a total of 37 premises in Noida, Delhi, and neighboring Faridabad (Haryana), starting in the afternoon.
When contacted by PTI, Bhutani Infra, Logix Group, and Group 108 did not immediately respond.
The search teams examined the books of accounts and inventories of these groups. The raids are still ongoing.
Bhutani Infra, known for luxury projects, announced last year that it was developing a 15 million square feet area in four projects in Noida. Additionally, it is expanding to four locations, including Goa, outside of the national capital region for the first time.
The Logix group has established large facilities for the Information Technology (IT) sector, as well as residential units.
