Income Tax Department Raids Utkal Builders Over Suspected Tax Evasion

Bhubaneswar: The Income Tax (IT) Department on Tuesday carried out extensive raids on several properties linked to Utkal Builders, following allegations of large-scale tax evasion.

According to sources, simultaneous searches were conducted at 14 locations across Bhubaneswar and Kolkata, including the company’s corporate and branch offices, as well as the residences of key directors and associates.

During the operation, a special IT team interrogated Office Accountant Prasanna Kumar Behera and Partner Prakash Bhura over major discrepancies found in the company’s financial records and suspected irregularities in transactions.

Officials have seized a significant volume of documents, digital data, and property-related files, which are now being scrutinized to trace unaccounted assets and potential tax violations.

Further details are awaited as the investigation remains underway.