Quick Summary
The income tax department on Wednesday, launched search operations at several premises associated with real estate company Embassy Group across Karnataka, Haryana and Maharashtra. According to media reports, raids were being conducted at more than 10 locations in Bengaluru, Gurugram and Mumbai. The reports further said that Embassy Groups offices were being searched in the backdrop of its merger with another real estate company Indiabulls. The income tax department is also searching Ind
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FAQ :
The Income Tax Department is conducting search operations at Embassy Group premises on alleged tax evasion.
The raids are being conducted at several Embassy Group premises across Karnataka, Haryana, and Maharashtra, including locations in Bengaluru, Gurugram, and Mumbai.
Embassy Group has described the searches as a 'routine income tax inquiry' and stated that they are fully compliant with all applicable laws and regulations.
Reports suggest the searches are being conducted in the backdrop of Embassy Group's merger with Indiabulls.
Yes, Embassy Group has assured its stakeholders that business continues as usual.
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