Income tax dept raids multiple premises of real estate group ACE in Delhi, Noida, Agra

 





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The investigation wing of the income tax department is conducting searches at the offices of real estate company ACE Group and its promoter Ajay Chaudhary in Delhi, Noida, Greater Noida, and Agra, sources said on Tuesday.

According to sources, tax sleuths are also searching at the corporate office and some of the real estate projects of the company. The builder is a real estate developer with several projects in Delhi and NCR.

Income tax officials reached ACE’s corporate office in Sector 126, Noida at 8 am today. The searches against the realty group are being conducted at 40 places in Delhi, Noida and Agra.

On December 31, the I-T department carried out raids at 35 different locations belonging to perfume baron and SP MLC Pushpraj Jain 'Pampi'. Worth mentioning here is that Jain, 65, had launched 'Samajwadi ittra' (perfume) in November in the presence of SP chief Yadav.

In today's raid, the tax officials are is trying to extract information on the money transactions of the builder.

The I-T team has mentioned that they had a suspicion regarding tax evasion and after getting more information they formed a team of elite officials to conduct the raid, news agency IANS mentioned citing sources.

At 10.45 am, there is no official word from the tax department or its policy-making body, the Central Board of Direct Taxes (CBDT), on the raids.


Source:https://www.timesnownews.com/business-economy/real-estate/article/income-tax-dept-raids-real-estate-group-ace-in-delhi-noida-agra/846138


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