Bhubaneswar: The I-T department continued its raid on DN Group, a well-known real estate entity of the state, on the charge of tax evasion by the Income Tax Department.
Even after four days of the raid, the DN Group and Income Tax Department are tight lipped regarding the crackdown. The I-T officials interrogated the company chairman Jagdish Nayak and legal head Chandra Sekhar Panda today for about two hours at the IRC Village headquarters in the afternoon.
Nayak, on the other hand, declined the allegation of tax evasion. “The report of tax evasion is false. I have not been questioned by any one today,” he said.
Both were questioned in presence of Additional Director of Income Tax Department, Gurpreet Singh.
Also Read: I-T Raids Real Estate Major DN Group For Tax Evasion; Rs 30 Cr Recovered
DN Group has spread its business in prime locations in the Capital city within a few days.
The Income Tax officials also want to know the source of Rs 30 crore which was seized from the house of Chandrasekhar.
Two days ago, the raids were conducted at 20 places linked to DN Group on allegations of tax evasion.
Raids were carried out at the residences of the company’s director, staff and office at IRC Village in the city.
The team had seized some important documents of the company during the search, sources said that the IT officials came across transactions of around Rs 105 crore by the company.
“We have no information regarding the seizure made by the IT department. The company will not react till completion of the raids,” a DN Group official had earlier said.
DN Group deals with several housing projects, malls, hospitality and other sectors.
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