I-T raids conducted at prestige group offices over tax evasion allegations

 The Income Tax (I-T) department conducted surprise raids on multiple offices linked to the Prestige Group in the early hours of the day. A team of over 50 I-T officials carried out simultaneous searches across four locations, including the company’s head office on MG Road. The raids were initiated following allegations of tax evasion by the prominent real estate conglomerate. Prestige Group, known for its extensive business ventures, including the construction of luxury apartments and commercial complexes, has been accused of concealing income and evading taxes. Acting on these allegations, I-T officials launched a detailed investigation and are currently scrutinizing several financial documents seized during the operation. Eyewitnesses reported that the raids began around dawn, with officials arriving in multiple vehicles and quickly securing the premises. The I-T teams thoroughly searched the offices, examining files, transaction records, and digital data for any evidence supporting the tax evasion claims. Employees present at the time were reportedly questioned about the company’s financial practices and documentation. A senior I-T official confirmed that the raids are part of an ongoing investigation and that the department will release further details after reviewing the confiscated materials. The Prestige Group has yet to issue an official statement regarding the allegations or the raids. The surprise operation has sparked significant attention in the business community, as Prestige Group remains one of the most influential players in Bengaluru’s real estate sector. The I-T department is expected to continue its inquiry over the next few days to determine the extent of the alleged tax evasion.