IT raids have once again created a stir in Hyderabad, the capital of Telangana state. On Wednesday morning, officials were simultaneously searching 30 places in the city. It is reported that these raids are being conducted for the leading pharma and real estate companies. Along with the Kohinoor group, two other real estate companies are also being targeted for these searches. It is reported that IT (Income Tax Raids) has entered the field with allegations of assets beyond income.
Meanwhile, IT raid officials are conducting raids in the houses and offices of the Kohinoor Group of MDs and Directors in the city. The Kohinoor Company operates on a large scale in the suburbs of the city. Also, IT expresses suspicion that this company has made ventures in government lands. In this order, they are inquiring about the details of the income along with examining the documents in all the offices of that company.
It is reported that these inspections are being conducted in the offices and houses of the directors of two other real estate companies along with the Kohinoor Group. IT Officials reached several places including Madannapet, Kondapur, Mehdipatnam, Shastripuram by 6 am. Full details are likely to be known after these raids are over.