Income Tax dept searches premises linked to builder group in Vapi

Vapi: The Income Tax (IT) Department is carrying out search operations in Vapi, creating a stir among local property developers. The searches that began on Tuesday are primarily focused on the Galaxy Group, a prominent business and hotel chain in the city, reportedly in connection with land transactions in Dahej.

It is learnt that nearly half a dozen IT vehicles from the Vadodara branch of the department reached Vapi to carry out coordinated searches. The teams conducted searches at multiple locations linked to the Galaxy Group, including its offices, residential premises, and various associated business units. The searches, which began early on Tuesday morning, continued into the late evening and remain ongoing today.

The simultaneous searches at Galaxy Group, Payal Property, and other associated businesses caused widespread commotion across the city. Police were deployed in surrounding areas as a precaution. Reports suggest that the Galaxy Group has been actively purchasing land on a large scale in Vapi and Dahej over the past few months, drawing the IT department’s attention. The raids are believed to be a preventive measure to verify the financial sources and actual income related to these land deals.

While there are unconfirmed reports of certain financial documents and cash being seized during the operations, the IT authorities have not provided any official details. Officials stated that complete information will be released once the investigation is concluded. DeshGujarat