Income Tax Department Launches Major Raids on Utkal Builders Over Alleged Tax Evasion
Bhubaneswar, Nov 4 — In a sweeping enforcement action, the Income Tax Department conducted extensive search and seizure operations on multiple properties linked to Utkal Builders, a prominent real estate firm headquartered in Bhubaneswar.
The raids, which began early Tuesday morning, targeted the company’s corporate office, residences of key directors, and several business sites across the city and adjoining districts.
According to official sources, the operation involved 18 teams and over 120 officers, acting on credible intelligence regarding large-scale financial irregularities and suspected tax evasion amounting to several crores of rupees.
Investigators are currently examining seized documents, digital records, and property files for discrepancies in financial statements and tax filings.
This marks one of the largest tax enforcement actions in Odisha in recent months, signalling a tougher stance by authorities against tax evasion in the booming real estate sector.
The Income Tax Department has yet to disclose the total number of properties under investigation or the duration of the operation. Further updates on potential seizures or legal proceedings are awaited.
