Saturday, February, 08,2025

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Significant cash, papers, & assets seized in I-T raids at Trehan Group

Jaipur/Alwar: In a significant operation, the Income Tax Department has initiated raids at 20 locations associated with the Trehan Home Developers group, a major real estate developer operating in Rajasthan and Haryana. The raids, led by the Income Tax Department’s investigation wing, are being carried out in Alwar, Gurugram, and Faridabad, focusing on uncovering alleged financial irregularities. The raids, which began early Thursday morning, concentrated at seven locations in Alwar, seven in Gurugram, and six in Faridabad. The Trehan Home Developers group, active in both the middle-class and premium housing sectors, is under investigation for suspected tax evasion and financial misconduct.

The Income Tax Department has reportedly uncovered significant irregularities involving the conversion of agricultural land into residential projects. The department has discovered discrepancies where agricultural land was purchased at lower prices, only to be later converted into residential projects at inflated prices, a move suspected to have been made to evade taxes. Promoters of the Trehan Home Developers group, including Harsh Trehan, Renu Trehan, Saransh Trehan, Chandra Gyan Khosla, Devashish Nayar, Ashok Kumar Saini, Yashpal Saini, and others, have also had their residences targeted as part of the investigation.

According to reliable sources, a large tract of agricultural land in Alwar was at heart of issue. I-T officials found a significant disparity between the District Level Committee (DLC) prices for residential projects and the actual sales prices. Additionally, the expenses for converting agricultural land into residential projects were grossly overstated, with millions allegedly claimed as development costs to reduce tax liabilities. The Income Tax Department has recovered substantial amounts of unaccounted cash, documents related to property investments, jewellery, and details of bank lockers from the locations raided.

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