IT searches at builder group in Gandhinagar

Gandhinagar: The Income Tax Department is conducting search operations in the state capital, targeting builder groups in the city. The searches are being carried out at premises associated with real estate developers, PSY Group.

The mega operation is ongoing at around 27 locations. Managing Director and Founder Nilay Desai, Director Bankim Joshi, and other top management of the PSY Group are currently under investigation. The ongoing probe spans various locations, including in Sector 8, Sector 21, Sargasan, and PDPU Road. More than 100 officials from the Income Tax Department are involved in this search operation, and there is a potential for uncovering large-scale benami transactions.

Meanwhile, for the second consecutive day, IT department’s search operations at Ward Wizard Company in Vadodara are ongoing. The department initiated extensive raids on various entities, including companies, hospitals, and plants, as well as the residence of Ward Wizard’s CMD Yatin Gupte. The investigation into the accounts of Ward Wizard Company has led to the seizure of crucial documentary evidence, computers, and accounting records. DeshGujarat