Lucknow. The Income Tax Department has raided seven locations of the real estate businessman located in Lucknow, Bareilly and Kashipur (Uttarakhand). Investigation was conducted at five locations of Satya Sai Builder’s director Ramesh Gangwar in Bareilly and one each in Lucknow and Kashipur.
Sources say that GST officials had recently conducted an investigation against Ramesh Gangwar, the director of Bareilly’s Satya Sai Builder firm. The case of tax evasion of about Rs 150 crore is being investigated. Income Tax teams have recovered documents of some properties during the raid. Information about a bank locker has also been received.
The Income Tax team had reached Saraswati Apartment located in Gomtinagar Extension in Lucknow, where the businessman’s flat was found locked. The house located in Kashipur was also found closed. Income Tax investigation has revealed that many real estate businesses have close relations with many IAS officers.
It is feared that the black money of the officers has been invested in the real estate business. Apart from this, it has also come to light that many big contracts were obtained through commission fraud. Ramesh Gangwar also does contracting in Lucknow and Uttarakhand. His firm also got the contract to build a tunnel in Uttarakhand.
The Income Tax team investigated four other locations including the businessman’s residence in Deendayal Puram, Bareilly. During the raid, information about the businessman being in Dehradun has come to light. The Income Tax team can interrogate him on Thursday. Information gathering against the businessman was started about six months ago.