Massive Tax Raid: Builder’s Home Yields ₹100 Crore in Assets, Cash & Jewellery Recovered

Faridabad (The Uttam Hindu): The Income Tax Department's Delhi team conducted a three-day raid at the residence and office of a well-known real estate builder, uncovering movable and immovable assets worth over ₹100 crore. During the operation, officials seized large amounts of cash, jewellery, and crucial documents related to financial transactions. The action was initiated after authorities received intelligence regarding tax irregularities and undisclosed wealth linked to the businessman. Several properties, including land records, bank details, and other financial documents, were confiscated, along with the builder's mobile phone and laptop, which are now under forensic examination.

Financial Network Under Scrutiny

Sources suggest that the Income Tax Department will now expand its probe into the builder’s business partners and financial transactions. Officials suspect a larger network of tax evasion and financial malpractice, indicating potential involvement of other individuals. The department has assured that further legal actions will be taken following a detailed review of the seized assets. While the builder has not issued any official statement, tax officials have confirmed that more such actions will continue to curb financial irregularities.

Previous Raids in Sector-35

This is not the first major tax raid in Faridabad. Earlier, a similar operation took place in Sector-35's Ashoka Enclave, where the Rajasthan Income Tax team seized jewellery worth ₹9 crore, cash worth ₹3 crore and 12 bank lockers. To prevent unauthorized transactions, four bank accounts of the builder’s directors were frozen, pending a thorough investigation. Officials suspect that these operations are part of a wider tax evasion network, and further scrutiny is underway.