Income Tax department launches searches at G Square

The Income Tax department has conducted searches on the premises of a prominent Tamil Nadu-based real estate firm, G Square, across various locations in the state, including Chennai, Coimbatore, and Tiruchirappalli, according to official sources. The real estate firm has denied the allegations and said that it has been "subjected to unwarranted persecution" for the past few months. Reports also suggest that DMK MLA from the city M K Mohan was also being raided by the tax officials, leading to his supporters staging a protest against the agency's action.

Some individuals, including BJP state unit chief K Annamalai, have accused the company of having links to the ruling DMK's 'first family', which G Square has denied. The company stated that it was "neither owned nor controlled" by the DMK's 'first family', in response to Annamalai's accusations. The Income Tax department also reportedly conducted searches in the Karnataka and Telangana offices of the real estate firm.

In a statement, G Square said that it had been subjected to unfounded allegations for several months, and there was no evidence to support them. The company assured everyone that it believed in transparency and had nothing to hide. It further added that it was fully cooperating with the authorities throughout this process and was hopeful that this validation would put an end to the malicious propaganda that had been spread against it.

Meanwhile, Tamil Nadu Housing and Urban Development Minister S Muthusamy refuted claims of special concessions being extended to G Square. He said that G Square was a private firm that was started in 2013 and that the present DMK Government was not giving any special concessions to the firm. He further added that no favouritism was shown to the company by the department of Housing and Urban Development.

The raids on G Square's premises have sparked controversy and raised questions about the legitimacy of the allegations made against the company. Some individuals have accused the ruling party of targeting the company unfairly, while others have questioned the company's business practices. The situation has led to a public debate on the need for transparency in the real estate industry and the role of the government in regulating it.

The real estate industry in Tamil Nadu has been under scrutiny for some time, with allegations of corruption, illegal land deals, and lack of transparency being levelled against it. The government has taken steps to address these issues, including the formation of a real estate regulatory authority, but there is still a long way to go in ensuring that the industry operates in a fair and transparent manner.

The G Square case highlights the need for greater transparency and accountability in the real estate industry and the importance of conducting fair and impartial investigations. It also underscores the need for companies to ensure that they operate within the bounds of the law and maintain high ethical standards to avoid any suspicion of wrongdoing. The case will undoubtedly continue to generate interest and debate, and it remains to be seen what the outcome of the investigations will be.

Next (Builder of Malibu Towne among six booked for encroachment on park in Gurugram)

Income Tax department launches searches at G Square

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