The Income Tax Department has launched simultaneous searches at various locations in Hyderabad, including residential and business premises, as part of an investigation into suspected financial irregularities. Ten teams of IT officials began the searches early on Tuesday morning, focusing on areas such as Kukatpally, Banjara Hills, Jubilee Hills, Madhapur, and Basheerbagh.
Among the premises raided is that of businessman Bolla Ramakrishna, who owns a television channel. Ramakrishna’s residence at Rainbow Vistas Rock Garden in Kukatpally was searched by a team of eight officers, who scrutinized documents related to financial transactions. The IT Department is also conducting a raid on the headquarters of a finance company.
[news_related_post]The searches are ongoing, with the teams going through extensive documents. The IT raids aim to investigate income discrepancies and possible tax evasion. Further details are awaited as the investigation unfolds.
