AHMEDABAD: An ongoing search on the premises of three builder groups in the state by the Income Tax (IT) department resulted in the recovery of more than Rs 10 crore in cash and incriminating documents, according to sources.
In addition to the 34 locations initially, six places were also included in the search, taking the total to 40.
“In the primary investigation, officials found fake loan entries, bogus transactions and details of investment in land and properties that were not reflected in the final accounts. The overall scope of tax evasion is yet to be ascertained,” sources said.
The search started on Saturday at the premises of a Mehsana-based real estate developer group, which has several schemes on SG Road, SP Ring Road and Vaishnodevi area in the city. Of the 40 places under search, 25 are in Ahmedabad, sources said.
Details of about 15 lockers have been found. The value of other seized goods is also being assessed, said sources.
