Income tax officers raided the residential, business establishment of a renowned builder in Ghaziabad and recovered unaccounted cash in excess of Rs 2.6 crores. The raids were started late Tuesday evening and continued till late Wednesday evening, the income-tax officials said.
Income tax department officials conducted raids on the premises of SVP builders and developers at their residence at Nehru Nagar area of Ghaziabad.
According to IT officials, these raids were conducted as there were specific leads, which confirmed that the builder was trying to sell flats over the price fixed and accepting cash in return. “I myself went to the builder as a decoy customer along with other officials. The deal was fixed and the builder demanded 30 per cent of the amount in cash,” Additional Director, Dr Shikha Darbari told HT.
23 establishments including 6 residences of 4 directors of the company were raided. Offices in Delhi, Ghaziabad and other site offices at Gulmohar Enclave, Gulmohar Greens, Gulmohar Towers and a mall on main GT road were raided, as per the officials. “There are also specific leads that the builders are also entering into transactions with some Delhi companies. So far we have recovered more than 2.6 crores unaccounted cash from their residence and the investigations are still continuing,” further said Durbari.
The officials have also recovered important documents and further leads during the raids. Further details could not be made available due to the seriousness of the case, the officials said.