In the biggest ever action in Vidarbha, Income Tax department sleuths conducted raids on 18 commercial establishments of 6 important builders of the city. About 80 to 90 officers of Income Tax department took part in the raid that began on 7.30 am today. The raids were conducted simultaneously.
The action has been taken today evening. Sources said the raid would continue tomorrow as the Income Tax officers had seized large number of contrasting documents related to Benami property, real estate and agricultural land. The sleuths have also seized huge quantity of cash.
The establishments under IT radar were Mahalaxmi Builders and Developers (Hingna), Orange City Housing Finance and Atul Unique City director architect Atul Yamsanwar. Raids were also conducted on establishments of Yamsanwar’s brother in law Prashant Bongriwar and his partner Rahul Upganlawar who jointly operates NKY Developers and Tirupati Groups.
Similarly, Mangalam Builders and Developers, Apurva Builders and Developers and Chandrakant Padamwar, an advocate by profession, who runs Agni Builders also came into the IT net.
The name of physician and surgeon Dr Sudhir Kunawar is also included. IT sleuths also conducted raid on the establishment of Pyramid Realtors director Vishwas Chakanlawar.
Department sources said the raids were conducted at Dharampeth, Ajni Chowk, Somalwada Chowk, Hingna, Yavatmal, Ghantji, Bhandara, Chandrapur, Ballarpur, Indore, Arni and Pusad.
The raids also conducted at outside Nagpur on the establishment of associates of Nagpur builders. Benami property IT officials suspected that all the builders were related to each other or they have professional relations. All of them have acquired huge benami property mostly agricultural land. Later, the land was changed into non-agricultural land and was sold as residential plots on huge profit.
The builders run their illegal business independently or jointly. It is suspected that they had purchased property by unaccounted money. On this ground, the IT conducted raids under the Prohibition of Benami Property Transactions Act 2016. It may be mentioned here that IT officials have power to seize property under Prevention of Money Laundering Act, 2002 without giving compensations.
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