The Hush Post|17:30 pm|1-min-read
Premises of three real-estate businessmen from Ludhiana were raided by the Income-Tax department. Nearly 150 sleuths of its investigation wing searched 40 premises of the trio and their associates on Wednesday.
However, after the IT raids, two persons whose premises were among those raided had to be hospitalised. Their statements could not be recorded by the I-T Department. The I-T raids were conducted at the offices of the businessemen offices, Bhadaur House, and houses in AC Market, Rajguru Nagar Market, BRS Nagar, Haibowal, Jagraon and Field Ganj.
According to IT department sources, the three had been under the department’s radar over cash deposits of Rs 18 crore at the time of demonetisation. The businessmen demolished old buildings and built new structures. All the three are into business of commercial and housing projects. They also work as real estate dealers.
All properties being raided are linked to the them and their associates which include several property dealers, deed writers, etc who have business dealings with them.
The raids are expected to continue further. Lots of incriminating documents pointing towards sales of properties in black have been found.