Real estate firm K Raheja under I-T lens for tax evasion

I-T department is examining the books of Hypercity and other group companies of the conglomerate to see if there is any discrepancy in the transaction

The investigation wing of the income tax (I-T) department has raised doubt on the inter se transaction between the real estate arm of K Raheja group and its erstwhile retail arm Hypercity Retail India. Tax officials are investigating whether the transaction was structured to evade tax. 

However, the company has denied the allegation. “The group always maintains arm’s length with proper corporate governance for all transactions. Following the provisions of law, the Hypercity transaction has also followed similar process,” the company spokesperson said.

According to sources, the I-T department is examining the books of accounts of Hypercity and other group