IT raids 11 premises simultaneously in Chhatrapati Sambhajinagar

- 200 officials and employees participated in the operation

Chhatrapati Sambhajinagar: In a major crackdown on tax evasion, the Income Tax (IT) department conducted simultaneous raids at 11 premises in Chhatrapati Sambhajinagar city on Thursday. Over 200 officials and employees participated in the operation, which targeted prominent construction businessmen in the city.

The raids commenced at around 6:00 am this morning and have sent shockwaves through the city's construction industry. Sources from the IT department have indicated that the raids are being conducted to uncover instances of tax evasion and unaccounted wealth.

The department has informed that the houses and offices of the construction professionals are being thoroughly searched and scrutinized. The raids are expected to continue for the next two to three days, and significant revelations are anticipated.

This development has caused a stir within the city's business circles, raising concerns about potential tax evasion practices among construction companies.

Raids follow surge in construction activity

The raids come in the wake of a surge in construction activity in Chhatrapati Sambhajinagar in recent months. Major projects have been launched in central areas of the city, including Paithan road, Satara, Deolai, and Shendra. Experts estimate that billions of rupees have been invested in these projects.

IT department suspects irregularities

According to senior sources, the IT officials are suspicious of irregularities in the transactions related to these projects. The raids are aimed at checking the financial records of the construction companies and identifying any instances of tax evasion or unaccounted wealth.

No official statement from IT department

Till afternoon, the department had not released any official statement regarding the raids. However, sources have indicated that the department is taking the matter very seriously and is uncovering any wrongdoing cautiously.