Income Tax officials are conducting raids on real estate firm in Hyderabad

The Income Tax officials are doing search operations in the houses and offices of a Hyderabad realtor by name Sridhar. According to I-T sources, the searches were going on since Wednesday evening. The Income Tax teams are doing searches in the house of Sridhar in JubileeHills and in the Sandhya Convention Offices at Madhapur, Raidurgam and Gachibowli.

The search operations are also going on at the houses of four other partners of Sridhar in the city. The I-T sleuths found that Sridhar on behalf of others is doing benami real estate business. They are quizzing them to get more clarity in benami transactions. According to sources they have seized many key documents pertaining to the benami business.