Ranchi, July 16: The Income Tax Department’s Investigation Wing conducted survey operations at multiple premises linked to two prominent real estate groups in Ranchi on Wednesday as part of an inquiry into suspected tax-related irregularities.
The survey covered locations associated with Panas Realtors LLP and the Dayanand Modi Group, including offices and properties connected to their directors and business associates.
Teams carried out searches at several sites in Lalpur, Ratu Road, and Kanke Road.
Officials examined records related to the purchase and sale of land and residential properties.
During the operation, investigators collected financial documents, transaction records, and digital data for detailed scrutiny.
According to sources, the survey was launched following suspicions that the companies may have underreported their actual income.
Authorities are reviewing the seized records to verify financial disclosures and assess compliance with tax regulations.
The operation also included inspections at the Panas Realtors LLP office located in Modi Heights on Ratu Road and the Dayanand Modi Group’s office in Lalpur.
Survey teams spent several hours examining documents and electronic records at these locations.
The investigation involved coordinated teams from Ranchi, Patna, Bhagalpur, and Jamshedpur, reflecting the scale of the operation.
The survey continued until late Wednesday night, with officials expected to continue examining the seized material as part of the ongoing investigation.
The Income Tax Department has not issued an official statement on the findings so far.
The survey remains part of a preliminary inquiry, and no conclusions regarding any tax violations have been announced.
