Income tax sleuths on Friday detected tax evasion worth around Rs 14 crore from five developers-cum- real estate agents of Mohali. This is considered to be the biggest detection made by the department during the current financial year.
I-T men expect the figure to go up further after scrutiny of account books and computers impounded during surveys carried out on Thursday and Friday. Inspecting teams comprised around 25 I-T officers and subordinate staff, who carried out inspections on office premises of five real estate developers.
Preliminary investigation revealed that among those who allegedly evaded tax include Parveen Kaushal and Mohit Ghavri of Modage Housing Development Corporation Pvt Limited, and the rest were identified as Harvinder Pal Singh, Preet Inder Singh and Jatinder Singh Virk. The default concerns payments worth around Rs 30 crore made to these developers by the Emaar MGF group for purchase of land stocks in Mohali and Kharar during the year 2005-06.