IT Department raids construction firm in Subarnapur over ‘tax evasion’

The Income Tax Department on Thursday launched simultaneous raids targeting the well-known Ramchandi Construction Company in Subarnapur district, amidst serious allegations of tax evasion. 

The raids that commenced at around 3 am on Friday are underway across multiple sites linked to the company's owner, Srinivas Mishra, a key figure in the region's construction sector. 

Officials targeted numerous locations associated with the company's owner Srinivas Mishra. Significant attention was focused on Mishra's office as well as his residence. Preliminary reports said that other premises within the Boudh district were also under scrutiny.

The department's action comes in response to concerns over potential large-scale tax discrepancies. Officials have not yet commented on the specifics of the ongoing investigation, but sources indicate that significant financial documents have been seized.

No comments could be obtained from Srinivas or IT officials in this regard.