I-T raids on realtors in & around Bangalore

In a major swoop, more than 20 residences and offices of land developers and realtors were raided by Income Tax (I-T) department sleuths aided by a posse of police in and around Bangalore today.

"Raids are still on," an I-T department official told PTI.

The simultaneous raids were conducted based on credible information, he said on condition of anonymity.

Land prices in and around Bangalore have shot up in recent times.

The I-T department declined to disclose the names of individuals whose premises are being raided.