IT searches Hiranandani group in Mumbai, other places
Searches were conducted at 20 locations of real estate major Hiranandani group in Mumbai and other cities by the Income Tax department in connection with alleged tax evasion. People from the Income Tax department who are aware of the developments are saying that the simultaneous searches had been conducted at many locations of the group including Mumbai, Bangalore, Chennai and Hyderabad. The residences of the company’s top officials were also searched thoroughly.
The operation lasted for several hours and some documents of accounts and transactions have been seized in the process. The Mumbai-based Hiranandani Group refused to comment on the matter.
Also being investigated are some alleged mismatch on Tax Deducted at Source (TDS) receipts related to payments made were also being verified during the operations.
Hiranandani group is a major real estate player in Mumbai with its flagship post project located in Powai.
Recently, Niranjan Hiranandani, the group’s co-founder filed a suit against his daughter Priya seeking to restrain the usage of name ‘Hiranandani’ in her business.
Some years back, the offices and other premises of Hiranandani Builders were raided by the CBI for alleged provident fund evasion of to the tune of Rs 168 crore.
Source: The Economic Times
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