Indore: The Income Tax department on Friday launched massive surveys at 48 premises of top ten builders and real estate owners of Indore having branches in other districts of Madhya Pradesh.
Over 300 sleuths with a security cover of 200 cops launched operations at builder offices and residences, said Chief Income Tax Commissioner's investigation wing.
Prominent builders under the scanner include Javeri Brothers, Silver Spring Group, Nanakram Kalra, Mansukhani Builders, Apollo Group, Gadha Group, Mohan Chug Group, Royal Builders, Pumarth Group, Sakar Group and Bhandari Group.
It will take at least two days to reveal the results of any seizures, the official said.
The operation sent shock waves among real estate players as soon as the news was circulated in the city.
The operations continued in RNT Marg, Chhawni, Palasia, Vijaynagar and Annapurna Road offices of the builders.
This is perhaps for the first time in Indore when such a large scale survey on realtors has been conducted by the IT department. Senior IT officials from Bhopal and Indore were included in the operations which continued till late evening.
A senior IT officer claimed that the action could reveal huge tax evasion. Sources claimed that mutual exchange of money has been detected during the action on Friday.
However, there was no official information from the IT department regardin g magnitude of the tax evasion till late evening on Friday.
Sources claimed that the IT department had conducted extensive preparations before launching this massive operation in the commercial capital.