Bihar Business Under Scrutiny IT Department’s Mega Search Operation Unfolds

The business circles of Bihar were jolted this morning as the Income Tax (IT) Department launched a massive crackdown on the Panorama Group, a prominent real estate and infrastructure player in the state. The raids, which began in the early hours, were primarily centered in the Supaul district but reportedly spanned multiple locations associated with the group.

High-Stakes Investigation

The Panorama Group, known for its large-scale residential and commercial projects, has been under the scanner for some time. Armed with specific inputs regarding alleged financial irregularities, teams of IT officials arrived at the residences and offices of the group's top executives.

According to local reports, the raids are focused on:

Tax Evasion: Suspected discrepancies between reported earnings and actual investments in various luxury projects.

Unaccounted Transactions: The department is scrutinizing "benami" properties and cash transactions that allegedly bypassed the formal banking system.

Document Seizure: Large volumes of digital data, hard disks, and property papers have been taken into custody for detailed auditing.

Impact on the Region

The Panorama Group is a significant employer in the Supaul and Purnia regions. This sudden action has created a wave of anxiety among stakeholders, investors, and home-buyers who have put their money into the group’s ongoing projects.

While the IT Department has not yet released an official statement on the total "black money" or assets recovered, the scale of the operation—involving dozens of officials and police security—suggests that this is one of the biggest tax-related actions in Bihar so far this year.

Political and Business Echoes

In Bihar’s charged political atmosphere, raids on major business houses often stir debate. However, the IT department maintains that this is a purely departmental procedure based on data analysis of tax filings. For the Panorama Group, the road ahead involves proving the legitimacy of their vast financial empire amidst intense scrutiny.

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