I-T sleuths search premises of Sobha Developers

The income tax officials on Monday launched search operations on the business premises of Sobha Developers, one of the leading real estate developers, for alleged non-disclosure of income.

The search operations was conducted at the headquarters at Sarjapur in the city, and three factories that the company operates near Jigani on the city’s outskirts. These factories manufacture wood, aluminium, and concrete products for the developer’s real-estate projects.

Sources said the income tax officials from the Chennai office were involved in the search operations that were going on. A company spokesperson said its officials were cooperating with the income tax officials.