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I-T raids on BRS MLC, others
Income Tax department on Tuesday conducted simultaneous searches at 50 locations in Hyderabad and in the neighbouring Andhra Pradesh.
Hyderabad: The Income Tax department on Tuesday conducted simultaneous searches at 50 locations in Hyderabad and in the neighbouring Andhra Pradesh.
The teams began the searches early in the day at company headquarters of former bureaucrat and BRS MLC Vankatrami Reddy and his family members who own the Rajapushpa realty company and the premises of Vasudha Pharma, Veritics, Puppa and Lifestyle companies. The officials found these companies allegedly evaded tax and invested unaccounted money in some projects in Hyderabad.
However, Venkatrami Reddy said he does not have black money and had purchased lands in auction only. He said the I-T sleuths were verifying all documents and that they were cooperating with the teams.
The I-T officials went to Venkatrami Reddy's house at Tellapur village in Sangareddy in the early hours of Tuesday and grilled the family members on the payment of I-T returns and the ownership of costly lands in Kokapet and other areas in the city.
The I-T officials were awestruck by the posh house in about 10 acres which is estimated to cost about Rs 100 crore. The BRS leader was asked to submit the details of the financial resources to buy the prime lands.
The searches will continue on Wednesday also, officials said, adding that Venkatrami Reddy's brothers would also be questioned.
