Odisha: Income Tax raids Utkal Builders over suspected large-scale tax evasion

Bhubaneswar: The Income Tax (IT) Department on Tuesday conducted simultaneous raids on multiple premises linked to Utkal Builders over alleged large-scale tax evasion.

Searches were carried out at 14 locations, including the company’s corporate office, branch offices, residences of key directors, and other business establishments in Bhubaneswar and Kolkata.

Key officials questioned over financial discrepancies

According to sources, a special IT team questioned Office Accountant Prasanna Kumar Behera and partner Prakash Bhura regarding major discrepancies detected in financial records and suspected tax irregularities in the company’s transactions.

Officials have reportedly seized several documents, digital data, and property-related files, which are currently under examination.

More details are awaited as the investigation continues.