The Income Tax (I-T) department conducted raids on firms of an infrastructure company in Ahmedabad and Vadodara this morning.
Income tax officials conducted simultaneous searches across 27 locations in Ahmedabad and Vadodara on firms associated with the Madhav Group in Gujarat.
During searches at the Subhanpura head office of the group in Vadodara, a strict vigilance was kept on the movement of people in and out of office since morning. The office deals in the business of railway overbridges and solar systems.
Ashok Khurana, the group chairperson of the company is working on bridge and highway projects in several states, including Gujarat. Apart from Vadodara, the company has branch offices in Bengaluru, Bhopal, and Dehradun.
As per sources, the tax officials seized important documents during the operation that point to possible tax evasions. Reports suggest the seizure of huge amounts of unaccounted transactions.