I-T raid politically motivated: Medak MP

The people of Telangana can easily understand why the I-T raids are being carried out at a time when the elections were approaching, Medak MP Kotha Prabhakar Reddy said

Siddipet: Medak MP Kotha Prabhakar Reddy has termed the Income Tax raids on him as politically motivated.

Stating that his life was an open book, the MP said he has been in business since 1986, and that he got his PAN card and was an income tax assessee since he started his business. I-T officials, who reached his home on Wednesday morning, were welcomed and guided around by his daughter without any hurdles. Calling his business transactions transparent, Reddy said his company had paid GST, Income Tax and other taxes following the guidelines.

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He had no investments in foreign companies or collaborations with any foreign companies. Saying that he was just owning a multi-national transportation company, the MP said the raid was just intended to malign his image. He had never got any notice from the I-T department, but the I-T officials had raided his house without any clear explanation for the raid, he said, adding that some television channels were also carrying misleading information on the raid.

“The people of Telangana can easily understand why the I-T raids are being carried out at a time when the elections were approaching,” he said.