I-T searches at Nahar builders

The income tax (I-T) authorities on Thursday conducted searches on the premises of Nahar Builders and Developers to detect tax evasion.

The income tax (I-T) authorities on Thursday conducted searches on the premises of Nahar Builders and Developers to detect tax evasion.

Searches were conducted at 11 premises belonging to the company and its owners in the city. Ten lockers were sealed. Sukhraj Nahar, chairman and managing director of the company confirmed the development. He, however, refused to comment further.

I-T officials said they conducted searches on learning that the company was inflating expenditure in its account books to evade tax.

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Officials scrutinised documents pertaining to the purchase of materials required for construction to gather evidence.