Income tax department searches 24 premises of Hiranandani group

The income tax department has stepped up its operation against real estate players, conducting searches at 24 premises in multiple cities belonging to Mumbai-based Hiranandani Group.

Last week, several premises linked to Omaxe were searched by the department for allegedly indulging in “unaccounted” cash transactions with customers of around Rs 3,000 crore. Delhi-based Omaxe is a listed real estate developer.

The searches on Hiranandani group pertain to alleged tax evasion, including foreign assets linked with a trust owned by the family, according to the people in the department. Officials are learnt to have also covered certain premises linked to Niranjan Hiranandani’s brother