The Income Tax (I-T) department conducted searches at multiple locations in Hyderabad on Friday linked to RS Brothers, a leading garment and jewellery retailer. As many as 15 I-T teams conducted simultaneous searches at different premises of RS Brothers over suspected tax evasion.
According to a ABP Desam report, the searches were carried out at stores and offices of RS Brothers at Ameerpet, Kokatpally, Sanath Nagar, Secunderabad, Mehdipatnam and other places in the twin cities of Hyderabad and Secunderabad.
As the IT officials conducted searches at the warehouse of RS Brothers at Sanath Nagar, employees were not allowed into the premises. The officials checked accounts and other computer records with the help of employees of the account department.
Recently, RS Brothers made significant investments in the real estate market and currently operates Honer Homes.
The IT officials also carried out searches at the residences of the owners and offices of some real estate firms.
Also read | Minister KT Rama Rao Visits Fluorosis Victim Amsala Swamy’s Home In Nalgonda
The I-T sleuths were reportedly going through the company's transactions as it is believed to have made investments in the real estate business.
Raids were also conducted at Big C and LOT mobile stores in Kukatpally. The officials seized employees' cell phones and examined hard disks and bank accounts. IT raids were also done in the South India shopping mall from 9 am.
Earlier, the Income Tax (I-T) Department conducted searches on prominent real estate groups Phoenix Infrastructure in Hyderabad.
The IT department suspected income tax evasion by the real estate firm and conducted searches on the offices of Phoenix group and the residences of directors. Searches were conducted in multiple locations like Moosapet, Jubilee Hills, Madhapur and other offices and homes.
(With inputs from ABP Desam — It is a Telugu platform of ABP News. For more news, commentary and latest happenings from two Telugu states, follow https://telugu.abplive.com//amp)