Several teams of Income Tax Department officials on Wednesday conducted simultaneous raids at 20 places connected with city-based real estate and construction company DN Group on the allegations of tax evasion.
According to sources, the IT department officials carried out raids at the residences of the company’s director, staffs and office at IRC village here. The raids started from the wee hours of the day.
The IT officials along with police seized Rs 30 crore in cash from the house of a staff of the company from a Government residential quarter in Unit-4 in the city. The money had been stored in three iron boxed and a big suitcase,
The team was said to have laid its hands on some important documents of the company, sources said.
Notably, the DN Group owns several luxurious housing projects and malls like DN Regalia at several locations in Bhubaneswar and other parts of the State.