Bengaluru: The Income Tax Department sleuths launched a simultaneous search and seizure operation on several premises belonging to real estate major Brigade Group on Thursday.
The I-T officials have conducted the search and seizure operation on 25 premises and surveyed nine premises, covering all subsidiaries and some of the realty projects. These premises are in Bengaluru, Mysuru, and Chennai. The operation is likely to continue over the next two days.
Sources in the department said the operation was being conducted in connection with a new case registered by the investigation wing in Bengaluru for suspected suppression of income and was not related to any of the old cases.
K.P. Pardeep, chief financial officer, Brigade Group, confirmed the search operation on the group’s premises. “The search operations are part of the normal course of action and we are cooperating with the I-T Department,” he said.
