Nagpur: Income Tax evasion has been piling up in the city which has put IT sleuths on the move. And major defaulters in Nagpur turned out to be real estate developers. In yet another crackdown on one of the prominent real estate company in Nagpur, IT sleuths raided the office and residential premises of Concrete Developers on Tuesday morning. The company’s corporate office is situated at Ramdaspeth, Nagpur. Concrete Developers is jointly owned by Sanjay Paidalwar and Nitish Chordia.
Sources said the IT sleuths have been tracking the transaction of the company and sensing the major evasion the officers launched early morning swoop. However the sleuths did not divulge any details at the time of filing the report.
It may be mentioned that Concrete Developers have erected a sizeable chunck of buildings in Ramdaspeth area, and have been pioneering the city’s real estate scenario with A class construction. The company has been into existence for last many years and has a rich experience in construction and building luxurious apartments and flats. The company has diversified interests in Residential Projects, Commercials, and Hotels.
From last two decades the company has handled over 70 Real Estate projects that include retail shopping centers, office buildings, industrial buildings, apartment projects, residential flat schemes, and land development projects in Nagpur as well as in other parts of Maharashtra.
Sources said the IT sleuths have recovered many key documents indicative of major tax evasion. Further details are awaited.