Bhubaneswar: The Income Tax (I-T) Department on Tuesday began simultaneous raids on multiple properties linked to Utkal Builders, a real estate firm in Bhubaneswar, over suspected Rs 100 crore tax evasion.
According to sources, searches are being carried out at 14 locations, including the company’s corporate and branch offices, residences of key directors, and other business sites in Bhubaneswar and Kolkata since early morning. A total of 18 teams, comprising over 120 officials and officers from the department, have been deployed for the coordinated operation.
A special IT team also interrogated office accountant Prasanna Kumar Behera and partner Prakash Bhura about significant financial discrepancies and suspected tax irregularities in the company’s transactions. Numerous documents, digital data, and property-related files have also been seized.
Further details are awaited as it is developing story.