Tax evasion: IT officials conduct searches at Vasavi real estate offices

Hyderabad: Income Tax officials on Wednesday conducted searches at Vasavi Real Estate Group of companies . Searches were conducted at 20 places simultaneously in AP and Telangana states.

The searches have been in progress since morning. A team of 20 IT officers conducted searches at the head offices of Vasavi Constructions and Vasavi Group of Ventures in two Telugu states.

There are allegations of irregularities in tax evasion, IT officials are probing the illegal transactions of the company. During the searches, important files and information related to the organization irregularities were confiscated. Further searches are under way at the offices.