HYDERABAD: Officials from the Income Tax department on Wednesday conducted searches on the premises of construction firms and businessmen, who funded Tollywood producers. During the searches, they found several violations in filing IT returns in the previous financial years.
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After forming different teams, the officials conducted raids in 35 locations in Andhra Pradesh and Telangana, including Hyderabad, where they verified the financial transactions of several infrastructure business firms in the city. Raids were conducted on Sri Aditya Homes located in Jubilee Hills and residences of its director and managing director.
Sources said that the officials also visited the office of Sri Aditya Homes and went into their investments, sources of income and sale of residential properties. Also raided was Urjitha Constructions Builders located at Kukatpally, Kompally and Kharkana and its managing director.
The officials also conducted searches of several businessmen, who funded Tollywood producers for making films.
Reportedly, the officials had conducted raids on Mythri Movie Makers some days back. Based on the information gathered, the IT officials verified the financial transactions of several individuals and businessmen in Banjara Hills and Madhapur.
It may be noted that earlier, Enforcement Directorate (ED) officials had
questioned Tollywood actors, directors and actresses about their
investments.
Source.
