Income Tax raids on DN Group: IT officials interrogate group chief Jagdish Nayak 

Income Tax department raids continued on the premises of DN Group for the fourth day on Saturday and a team of IT sleuths quizzed group chief Jagdish Nayak. Moreover, DN Group's legal officer Chandrasekhar Panda was also questioned by the IT officials.  

According to sources close to the department, the team stumbled upon Rs 2.5 crore more during the raid today. With this, more than Rs 32 crore has been recovered so far. Presently, the officers are quizzing Nayak at the DN Group head office located at IRC Village in Bhubaneswar. 

As per reports, the IT team is trying to establish the source of the cash. Nayak is also being quizzed about land acquisition at different locations in Bhubaneswar. 

The IT team is reportedly inspecting the pen drive and hard disk seized during raids. 

After the questioning by IT sleuths concluded later in the evening, DN Group chief Jagdish Nayak told reporters that the tax evasion charges levelled against him are false and baseless.

On July 5, the Income Tax Department officials carried out simultaneous raids at 20 places linked to Bhubaneswar-based real estate and construction company DN Group on the allegations of tax evasion.