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The income-tax department continued its search operations against two Ahmedabad-based real estate groups into a third day, widening the scope across multiple locations in the city. The action followed inputs suggesting large cash components in property transactions. Officials searched offices, project sites, residences, and premises linked to associates such as contractors and brokers. Documents, digital records, and financial details were seized for verification. The operation reflects ongoing scrutiny of unaccounted income in real estate deals, an issue that has drawn repeated attention from tax authorities in recent years.
Income-tax officials continued searches against two real estate groups in Ahmedabad as the operation moved into its third day, covering more than 30 locations linked to the developers. These included corporate offices, construction sites, residences of key persons, and premises connected to suppliers, contractors, and property brokers associated with the groups. Advertisement
The searches were initiated after the department gathered information indicating that parts of property sale consideration were being accepted in cash. As part of the preliminary verification, tax officials posed as prospective buyers and documented instances where cash components were allegedly discussed alongside cheque payments. This led to the launch of a full-scale search to verify undisclosed income and examine the extent of off-book transactions.
During the course of the operation, officials seized financial documents, project-related papers, and records linked to land purchases and sales. Digital data from mobile phones, computers, and other electronic devices was also taken for further analysis. In addition, details of bank accounts and lockers linked to the groups and their key individuals are being examined to trace fund movements.
The developers under scrutiny are understood to have multiple residential projects in and around Ahmedabad, including key growth corridors. Officials indicated that the investigation will assess whether cash transactions were limited to select deals or followed a broader pattern across projects.
This is not the first such action in the city's real estate sector. In the past, income-tax authorities have carried out similar searches on developers in Ahmedabad, uncovering unaccounted cash dealings and discrepancies between reported and actual transaction values. These actions form part of a wider effort to address tax evasion and improve transparency in property transactions.
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