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        Case ID :

        Income Tax department raids Noida-based real estate group

        January 4, 2022

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        New Delhi, Jan 4 (PTI) The Income Tax department on Tuesday raided multiple premises linked to a Noida-based real estate group as part of a tax evasion investigation against it and others, official sources said.

        They said offices and residential locations of the ACE group in Noida and Greater Noida in Uttar Pradesh, apart from a few other places like Baghpat, are being covered.

        Ajay Choudhary is the CMD of the realty group, which said it was "fully cooperating" with the concerned agencies.

        "As a law-abiding company, we strictly adhere to all laws, rules and regulations.

        "Income-Tax (department) had raided the group three months back and even at that time the group had fully cooperated with the agency," an ACE group spokesperson said.

        The realty group is stated to have developed commercial and residential projects in Noida, Greater Noida and some other locations in the National Capital Region, the sources said.

        The tax authorities are also raiding an Agra-based group engaged in shoe business on similar charges.

        Another UP-based group was also being searched, the sources said.

        They said some of those raided have political links and the I-T department has recovered tax-related documents during the surprise action that began early morning along with police escort.

        Income tax raid targets real estate and manufacturing groups, seizing tax-related records and prompting compliance reviews. The Income Tax department conducted coordinated search-and-seizure operations at premises linked to a Noida-based real estate group and at least two other business groups in Uttar Pradesh, recovering tax-related documents during surprise raids carried out with police escort; the realty group stated it was cooperating with authorities and earlier agency interactions had also involved cooperation.
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                            Provisions expressly mentioned in the judgment/order text.

                                Income tax raid targets real estate and manufacturing groups, seizing tax-related records and prompting compliance reviews.

                                The Income Tax department conducted coordinated search-and-seizure operations at premises linked to a Noida-based real estate group and at least two other business groups in Uttar Pradesh, recovering tax-related documents during surprise raids carried out with police escort; the realty group stated it was cooperating with authorities and earlier agency interactions had also involved cooperation.





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                                ActsIncome Tax
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