In Hyderabad, the Income Tax (IT) Department conducted raids at the premises of Vamsiram Builders, a leading real estate developer in the Telugu State of Telangana and Andhra Pradesh.
The searches carried out on the 6th of December, were in view of alleged tax evasion by the company. Separate teams of IT officials carried out searches in Hyderabad, Nellore and Vijayawada (Andhra Pradesh.)
Approximately 20 teams of IT officials began the searches at the houses and offices of the Chief Executive Officer (CEO,) Managing Director, directors, partners and investors of Vamsiram Builders. The raid started in the early morning of Tuesday, the 6th of December and was conducted till late at night.
The officials were checking records following complaints of alleged tax evasion. To control the situation and ensure security for the IT officials, a team of the Central Reserve Police Force (CRPF) were also deployed.
The IT officials are expected to continue the raid for the second consecutive day, the 7th of December, Wednesday.
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