The Income Tax Department recently launched a large-scale search and seizure operation against multiple entities operating in the real estate, road construction and toll collection sectors in Indore, following inputs related to suspected suppression of taxable income and unaccounted financial transactions.
Multiple Locations Searched Across Indore
More than two dozen income tax teams, supported by heavy police deployment, carried out simultaneous searches at offices, toll plazas, project sites, and residential premises across the city.
Officials said investigators examined digital records, hard drives, financial ledgers and documents to trace possible tax evasion, benami assets and suspected hawala routing of funds.
Action Against Road, Toll and Construction Groups
Searches were conducted at the Indore headquarters of a group associated with road construction and toll projects. The operation covered company offices, toll booths, project sites, residences of key functionaries, and other locations linked to the business, sources said.
The Income Tax Department also searched premises of a major construction company, including its Sapna-Sangita Road office, project sites at Bicholi Hapsi, and the residences of its director.
Officials said action was also initiated against entities linked to the developer, including Kannod-based developers and construction firms, as well as another associated company.
Focus on Contract Payments and Toll Collections
As per TOI news report, a senior Income Tax official has said that the operation was based on specific financial intelligence inputs.
“Teams are examining contract payment records, project-wise accounts and inter-company transactions to identify any concealment of income,” the official said, requesting anonymity as the investigation is ongoing.
Authorities confirmed that documents related to real estate ventures, infrastructure contracts and toll collections were seized during the searches. Investigators are also probing benami property registrations and cash-based transactions.
Investigation Ongoing
Officials said the searches were continuing and that forensic analysis of seized digital data and documents would determine the scale of undisclosed income and the next course of action.
The operation is part of a broader crackdown on tax evasion, particularly in sectors under scrutiny for cash dealings and unaccounted investments, officials added.
Source: Times of India