IT department conducts instant Raids on Lucknow-based Realtor

The income tax department on Wednesday  has conducted an extensive simultaneous raids at over two dozen locations across Lucknow and Barabanki which is linked to a Lucknow-based real estate developer and a steel company. Over 25 teams were deployed for the crackdown at 18 sites which is associated with the realtor, including key offices at Hazratganj and residential properties in Gomti Nagar.

Raids took place at the other company’s offices in Janakipuram and Nirala Nagar. Officials were gathered evidence and questioned staff very late into the night. Additionally, searches were conducted at an associated manufacturing facility and showrooms in Kursi Road industrial area.

The operations were motivated by allegations of financial irregularities, tax evasion, and transactions with shell companies. Authorities have seized numerous documents and electronic records while interrogating owners, directors, and employees about their business practices. Access to the premises was restricted, and staffs were instructed to surrender their mobile phones during the raids.

The real estate developer had been involved in numerous high-rise and residential projects in Lucknow and Delhi  NCR. But the company faced allegations of converting black money into legitimate income and evading substantial tax liabilities.

According to officials, the company’s estimated annual turnover exceeded Rs.1,000 crore, though exact figures were not revealed  on its official website. Sources in the department indicated that the raids not only focused on the owner’s personal and business properties, but also extended to the company’s offices and various expansion project sites. The company was involved in numerous high-rise and residential projects in places like Lucknow and the Delhi NCR.