IT Department raids Noida premises of Real Estate Firm over suspected Evasion

The Income Tax department searched premises linked to a real estate developer in Noida and Greater Noida on Saturday, officials said.

Raids at Real Estate Firm

Reetu | Sep 19, 2023 |

IT Department raids Noida premises of Real Estate Firm over suspected Evasion

IT Department raids Noida premises of Real Estate Firm over suspected Evasion

The Income Tax Department searched premises linked to a real estate developer in Noida and Greater Noida on Saturday, officials said.

“The searches were carried out by sleuths from the department’s North Western Region on the premises of Orris Group and its linked companies,” an official said.

Searches were conducted on the group’s premises in Noida and Greater Noida, as well as in Gurugram, for suspected tax evasion on Friday, according to the official.

According to officials, the Income Tax department has conducted raids at multiple locations belonging to various builders in Delhi-NCR over the last two days.

A local Official stated, the Orris Group was given land for a group housing project — Green Bay Golf Village — in Sector 22D of the Yamuna Motorway Authority in 2011.

However, as of February 28 this year, the group owed the Yamuna Motorway Authority Rs.761.99 crore and was its biggest defaulter in the group housing category, he said.

The real estate group was embroiled in controversy in June 2018, when the Noida Police filed a FIR against its Greenbay Infrastructure company for document forgery and cheating after the Yamuna Motorway Authority flagged the offences in its audit.

According to the FIR obtained, the group’s chairman Vijay Gupta, among others, was booked three months later by the Delhi Police’s Economic Offences Wing in a case related to the same project.

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