I-T raids on Hyderabad-based real-estate company

Hyderabad: The sleuths of Income Tax (I-T) department carried out simultaneous raids across the country on the properties belonging to a city-based real estate company in connection with the alleged tax evasion.

On coming to know about the tax evasion committed by the company, special teams from the I-T department conducted raids at four metropolitan cities and 10 other places in Hyderabad. During the raids, the sleuths seized crucial documents.

It is learnt that the I-T authorities also seized cash during the raids. The company is into business pertaining to construction of apartments apart from handling road infrastructure projects.