I-T launches major operation in Ahmedabad targeting chemical dealers

I-T launches major operation in Ahmedabad targeting chemical dealers |

The Income Tax Department initiated extensive operations across Ahmedabad against Chemical dealers. Chemical dealers, such as Bleach Chemical and Dhara Chemical, have come under the department’s scanner.

Important players in the chemical sector, such as businessman Keyur Shah from Ahmedabad, are currently the subject of a thorough inquiry.

The raid started on Wednesday morning and is expected to last for more than next 24 hours, sources said.

According to sources, the Income Tax Department has conducted raids in more than 20 places throughout the city. A team of about 100 officers who are totally committed to these investigations are involved in these operations. According to early reports, a significant number of benami transactions—transactions performed in one person’s name but on behalf of another, usually to evade taxes or legal issues—might be revealed by these searches.

Read more: D2D CA Programmes by IIM Ahmedabad under MOU signed with ICAI

A few weeks earlier, the city witnessed an operation targeting the Swati Buildcon Group and the Mahesh Raj Chemical Group. That operation extended to 35 to 40 key locations within Ahmedabad, with the collaborative efforts of over 100 officials from not just Ahmedabad, but also from neighbouring cities like Vadodara and Rajkot. In a related move, the Swati Buildcon’s head office situated on Ambli Road also received formal notices from the Income Tax Department.

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