Ahmedabad: The Income Tax Department on Wednesday initiated extensive operations across Ahmedabad against Chemical dealers.
Chemical dealers, such as Bleach Chemical and Dhara Chemical, have come under the department’s scanner.
Key figures within the chemical trade, including the Ahmedabad businessman Keyur Shah, are now under a rigorous investigation.
The raid started on Wednesday morning and is expected to last for more than next 24 hours, sources said.
Sources revealed that the Income Tax Department has launched raids across over 20 locations in the city alone. These operations see the involvement of a team, consisting of more than 100 officers, fully dedicated to these investigations. Initial reports suggested that these searches might expose a sizable volume of benami transactions, which are transactions made in one person’s name but on behalf of another, typically to avoid taxation or legalities.
A few weeks earlier, the city witnessed an operation targeting the Swati Buildcon Group and the Mahesh Raj Chemical Group. That operation extended to 35 to 40 key locations within Ahmedabad, with the collaborative efforts of over 100 officials from not just Ahmedabad, but also from neighboring cities like Vadodara and Rajkot. In a related move, the Swati Buildcon’s head office situated on Ambli Road also received formal notices from the Income Tax Department.
–IANS
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