IT raids at real estate tycoons houses in Hyderabad

Around 50 teams of the Income Tax department carried out raids and searches at various locations in Hyderabad: Around 50 teams of the Income Tax department carried out raids and searches at various locations in Hyderabad on Wednesday.

This time around, the houses and offices of real-estate players were searched.

The houses of Urjitha Constructions MD Srinivasa Reddy, Sri Aditya Homes Pvt LTD Director Kota Reddy and his son Aditya Reddy, which were in Lodha Apartments in KPHB, were searched.

Reportedly, the IT department suspected irregularities in their IT return claims. The officials were collecting the details of IT returns of the businessmen for the last five years and checking with their data.