I-T searches Emaar-MGF offices

The Income Tax Department on Thursday conducted searches on the official premises of realty firm Emaar-MGF on charges of alleged tax evasion. Sources said a team of I-T sleuths began the searches early on Thursday and covered about three premises of the company in the national capital region including Delhi and Gurgaon.

The company, while confirming the development to PTI, said it is cooperating with the authorities. "We wish to clarify that a routine survey was undertaken today by the I-T department at our office premises. As a responsible, law-abiding corporate house, we have been extending full cooperation.

"We wish to reiterate that the Company always upholds the highest standards of corporate governance and follows all the laws of the land,” a spokesperson for Emaar-MGF said.

The department, sources said, was checking some recent transaction statements of the firm during the operation.