IT raids on firm over tax evasion

The firm headquartered at Madhapur in the city, has operations spread across Noida in India and Oman, Saudi Arabia in the Middle East and Nigeria in the African region.

Published: 14th July 2022 07:00 AM  |   Last Updated: 14th July 2022 07:00 AM   |  A+A A-

Raids

Image used for representational purpose only. (File Photo)

By Express News Service

HYDERABAD: The Income Tax sleuths conducted searches on the offices of a Hyderabad-based firm, which is into power production, real estate, infra, on allegations of tax evasion.Teams from the evasion wing swooped down on the offices and other properties belonging to the firm in different parts of the city and carried out the searches.

The firm headquartered at Madhapur in the city, has operations spread across Noida in India and Oman, Saudi Arabia in the Middle East and Nigeria in the African region.During the searches, I-T officials seized several documents, electronic gadgets and other incriminating material.After analysing the seized material, further course of action would be decided, IT sources said.

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