The Income Tax Department raided the Khazir Group across multiple cities, seizing cash, sealing lockers, and probing alleged hidden assets worth crores.
Saloni Kumari | Oct 4, 2025 |
Massive Income Tax Raids on Khazir Group: Crores in Cash, Dubai Assets Under Probe
On Tuesday, October 01, 2025, the Income Tax Department conducted huge raids against the Khazir Group, a large and well-known business group in Kashmir that works in several sectors, including the hotel and tourism sector.
Sources say the raid has been spread over wide locations, including Srinagar, Delhi, and Mumbai. During the investigation, tax officials allegedly confiscated many incriminating documents and digital records. The Tax Department is now inspecting these documents to further uncover possible violations of tax and financial laws.
Local reports said that cash was found, several lockers were sealed, and hidden foreign assets were uncovered. The findings also suggest unexplained investments in Dubai properties worth tens of crores. Early probes suggest massive tax evasion of several crores; however, officials have not confirmed it yet.
The Khazir Group, which also owns the popular Sarovar Portico Hotel in Srinagar, is still being closely investigated by the Income Tax Department.
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