STATE TIMES NEWS
JAMMU: In one of the biggest crackdowns in recent years, the Income Tax Department carried out extensive raids on the premises of the well-known Khazir Group of Kashmir. The operation, which began in Srinagar, simultaneously extended to multiple locations in Delhi and Mumbai, sources said.
According to credible local sources, the raids spanned more than 20 locations across the three cities. Several teams of Income Tax officials were involved, seizing a wide range of incriminating documents and digital evidence, which are now being examined for violations under Income Tax and other financial laws.
Initial reports suggest that officials have seized cash, attached multiple bank lockers, and uncovered details of both local and foreign assets. Notably, evidence of unexplained investments in Dubai properties worth tens of crores has also surfaced during the searches.
So far, investigators have reportedly detected tax evasion amounting to crores of rupees, with further scrutiny and follow-up action expected in the coming days.
The Khazir Group, a diversified business house in Kashmir, is also engaged in the hospitality sector and operates several hotels, including the prominent Sarovar Portico in Srinagar.
Despite repeated attempts, officials of the Income Tax Department’s Srinagar wing could not be reached for confirmation. However, sources familiar with the development maintained that the raids are part of a larger drive to crack down on unaccounted wealth and financial irregularities.