New Delhi, Jan 4 (Representative) Continuing its crackdown on alleged tax evasion, the Income Tax (I-T) department on Tuesday carried out search operations on multiple locations linked to Noida-based builder Ace Group and also a shoe-manufacturer in Agra. “Multiple locations linked to the Noida-based builder were covered in today’s raid. Associates of the real estate group has also been searched. Search operations were also carried on a Agra-based shoe manufacturer,” said a senior Income Tax (I-T) official. It has been learnt that Ace group promoter Ajay Choudhary has political links with top leaders in Uttar Pradesh. “Based on the intelligence input the search operations were carried out,” the official said.
Ace Group is developing several projects in Delhi NCR region. “It is under Mr. Ajay Choudhary’s mentorship that ACE has emerged as one of the foremost real estate developers, with 8.5 millions Sq.Ft. (796712 Sq. Mts.) of projects executed and another 12.8 millions Sq. ft.(1189159 Sq. Mts.) under various stages of development in Noida and Greater Noida,” Ace group website said. The tax authorities have recently conducted several raids in the poll-bound UP in alleged cases of tax evasion by suppressing taxable income and gaming the system. In one of the operations on perfume trader Peeyush Jain in Kanpur, the Directorate General of GST Intelligence (DGGI) had recovered cash of nearly Rs 200 crore.