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February 22, 2025
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I-t Searches: I-T searches on finance, real estate firms | Ahmedabad News


Ahmedabad: Gujarat Income Tax (I-T) department on Saturday started widespread search operations on multiple finance and real estate firms based in Ahmedabad and Vadodara among other places. According to sources, close to 30 premises were under search as officials remained tight-lipped about the finds at the end of their Saturday operation.“The real estate firms were reportedly associated with some big-ticket purchases earlier this year, whereas the finance firms were suspected to have involvement in unaccounted transactions. It is believed that the teams searched both residential and commercial premises to search for cash, valuables, books of accounts, digital records and informal accounting details. Further details are likely to emerge as the searches progress,” said sources. They added that the interlinking of the firms under survey could not be ruled out.It is one of the major searches in the past few months that covered more than one city and multiple sectors. It is believed that teams from multiple units were engaged in the operation. tnn

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