Major IT Operation Unveils Hidden Transactions in Ahmedabad: 20 Raids Target Bleach and Dhara Chemical
Another Major Income Tax Operation Unfolds in Ahmedabad: Targeting Prominent Chemical Traders
The Income Tax department has recently cracked down on major players in the chemical business in Ahmedabad, suspecting fraudulent activities. Raids have been conducted on well-known chemical companies, including Bleach Chemicals and Dhara Chemicals. Several prominent business figures from Ahmedabad, such as Keyurbhai Shah, are currently under scrutiny.
Over 20 locations in Ahmedabad have been subjected to intense investigations by the Income Tax authorities, with a convoy of over 100 officers leading the charge. As the investigations progress, there is a strong likelihood of uncovering substantial benami (anonymous) transactions in the region.
20 Days Ago, Builders Faced Scrutiny in Ahmedabad
Twenty days ago in Ahmedabad, Swati Builders Group, along with the connected Mahesh Raj Chemical Group, underwent a massive search operation carried out by the Income Tax department, involving a team summoned from across the state. Swati Builders Group’s offices, as well as the residences of its associates, were combed, including those connected to Mahesh Raj Chemical Group.
The investigation extended to 40 different locations, encompassing the offices and residences of Mahesh Raj Chemical Group and Swati Builders Group, with potential connections uncovered between them. This operation signifies the intensified efforts to uncover any irregular financial activities in the region.
Three Metropolitans Unite for Tax Raids
Swati Builders Group’s main office on Ambli Road faced the scrutiny of the Income Tax department, along with a simultaneous operation spanning 35 to 40 locations across the city, all targeted by Income Tax authorities. This operation covered Ahmedabad, Vadodara, and Rajkot, where over a hundred officers joined forces in the extensive search and investigation.
The coordinated effort of three major cities in Gujarat reflects the seriousness of the operation, signaling the commitment to uncover any undisclosed financial transactions in the region.
