The Income Tax (IT) Department conducted raids on the Arihant Group in Navi Mumbai on Wednesday morning over alleged tax evasion and undisclosed income.
Tax officials from the Thane division carried out multiple searches at the premises of listed infrastructure and real estate developer Arihant Superstructures and the unlisted Global Group in Turbhe and Koparkhairane, Navi Mumbai.
The real estate and infrastructure group, led by Ashok Chhajer, has over 14 projects in the Mumbai Metropolitan Region (MMR) and Jodhpur. The company claims to have completed approximately 9,500 residences totaling 10 million square feet over the past 20 years.
Arihant Superstructures confirmed the IT department’s searches at its offices and those of the unlisted Global Group, stating that they provided all necessary documents to the officials as required.
The company asserted its transparency, adding that no irregularities were found during the searches.
