The Income Tax (I-T) department on Tuesday carried out raids on two builders of the State capital. The raids were carried out simultaneously on over a dozen premises of Regal Homes and Om Shanti builders here, Dewas and Indore besides at their residences.
The Regal Homes offices at Maharana Pratap Nagar Zone 1, Padamnabhan Nagar, Railway Colony and Arera Colony located offices were raided while the offices of Om Shanti located at Dewas, Indore and other places were raided by the IT sleuths.
The IT squad that included about 50-60 sleuths including officers and employees reached the premises of both the builders in presence of police force. Though the IT sleuths faced some opposition in the beginning but after showing strictness they started proceedings.
The IT sleuths seized the documents from both the builders. According to the sources it is estimated that black money to the tune of crores of rupees would be unearthed from the raids.
Sources claimed that tax evasion worth crores of rupees is likely to be unearthed. The search process continued till late night and officials claimed that it would take around a week to investigate total income.