Income Tax officials search builders’ offices in NCR

February 6th, 2009 - 11:02 pm ICT by IANS  

Noida, Feb 6 (IANS) Income-Tax sleuths searched the offices of at least half a dozen real estate builders in the national capital region (NCR) Friday, sources said.An 11-member team of Income-Tax officials raided the offices of Supertech Constructions at various locations in Noida Friday at 9 a.m. and scanned documents and papers relating to the builder’s accounts till 1 p.m., sources said.

Simultaneous raids were conducted in the NCR region at the offices of nearly half a dozen other real estate builders - Paramount, Gaursons, Assotech, Ajnara and Panchsheel groups - members of the consortium, the Crossings Republik.

The Income-Tax department had reportedly received information related to wide-scale anomalies committed by builders and complaints related to non-fulfilment of commitment made to buyers, sources said.

Many people who have invested in projects started by these real estate developers have been awaiting to take possession of their properties. The department took cognisance of these complaints and constituted a team to conduct random search on these builders, the source added.

Supertech Constructions managing director R.K. Arora said: “It was a routine activity. They had visited almost all our offices. Being part of Crossings, they wanted certain information which we have provided to them. There was no error found on our part. It is absolutely normal.”

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