I-T dept raids 34 premises of Bengaluru's Brigade Group over alleged tax evasion

The raids and surveys were conducted in Bengaluru, Chennai and Mysuru.
I-T dept raids 34 premises of Bengaluru's Brigade Group over alleged tax evasion
I-T dept raids 34 premises of Bengaluru's Brigade Group over alleged tax evasion
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The income tax department initiated raids and surveys at 34 premises of real estate firm Brigade Group in Bengaluru, Chennai and Mysuru, following complaints of tax evasion.

The raids began at 7am in Brigade Group’s offices in VV Mohalla and Gokulam in Mysuru and involved more than 200 IT officers raiding 25 premises while surveying 9 others. 

The scale of the operation is one of the biggest in recent times, according to Times of India.

The department had already commenced raids on the group’s offices in Brigade Gate and Yashwantpur in Bengaluru on Wednesday night.

Brigade Group’s offices have come under the scanner over suspicions of carrying out high-volume transactions after demonetisation.  Officials said that raids were conducted after reports of money being credited to bank accounts post demonetisation, according to Deccan Herald.

They confirmed that they collected documents and sealed lockers. The operations are set to continue on Friday and the details of the raids will be made public soon. A spokesperson for the group confirmed the searches and said that the group is cooperating with the I-T department. 

"Officials of the I-T department came to some of our offices to check our books in the normal course. We're extending all assistance to them," said a spokesperson of Brigade Enterprises speaking to Times of India.

Sources in the department said the simultaneous operation was being conducted in connection with a new case registered by the investigation wing in Bengaluru for suspected suppression of income and was not related to any of the old cases, reported The Hindu.

In the past, the Brigade Group has been accused of usurping land meant for a storm water drain in Yeshwantpur, Bengaluru.

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