Summary:
NOIDA: The income tax department has decided to auction an under-construction group housing project in Greater Noida West as the developer has failed to pay Rs 1.63 crore as tax deducted at source. Ram Avtar, tax recovery officer, Noida said the developer was allotted land for different projects in Noida, Greater Noida and Dadri. The project has five towers each having five-storey plus two floors as basement.Rai said the auctioning process would start on October 25, 2018 at 11.30 am in income tax department office in Sector 24. The tax assessment officer analysed his property and issued a notice for tax recovery.The I-T department investigated the matter and found the developer Narendra Bhati-based in Ghaziabad. This is the first time the I-T department would auction any property in Noida.H N Rai, TDS officer, said Niwas Promotors Pvt Ltd was developing a group housing society – Troy—in Greater Noida West..