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I-T searches builders’ premises in Mumbai and Pune, Real Estate News, ET RealEstate

I-T searches builders' premises in Mumbai and Pune, Real Estate News, ET RealEstate
MUMBAI: The investigation wing of the Income Tax (I-T) department searched the premises of several builders in Mumbai and Pune on Thursday for alleged tax evasion.

It is learnt that some of these builders have links with senior politicians of the ruling alliance in Maharashtra government.

The searches are expected to continue. The I-T sources stated that these builders are mid-level developers.

The I-T officials refused to share more details, but it is believed they are tightening the grip on builders before the BMC election, which is scheduled to be held early next year.

The officials are scanning details of many businessmen, including builders, who allegedly help generate unaccounted cash for politicians during elections.

Last month, the I-T officials submitted a report to the Election Commission asking for disqualification of Shiv Sena MLA from Byculla Yamini Jadhav. The report also mentioned details of her husband, Shiv Sena corporator Yashwant Jadhav. In the report, the I-T had alleged that the couple carried out suspicious transactions with the help of a Kolkata-based hawala operator to convert unaccounted cash into legitimate money.


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