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The Income Tax department had filed a caveat in the apex court that it should be heard in case any appeal is filed against the Delhi High Court order.
The raids were in connection with the differences in the submitted I-T returns and the physical position of the company’s income.
I-T officials reportedly drawn from neighbouring Telangana and Odisha and also from Chennai and Bengaluru reached Visakhapatnam on Wednesday night itself.
Another source said that the accountants of the companies were asked to go on leave to prevent facing the enquiry.
According to officers, Thomas bought the land in a benami transaction. The land was bought from 33 persons through their power of attorney in 2001.
One of the firms identified by ITD officials is V V minerals of Tamil Nadu.
Who does not love a thoughtful gift? We all do. However, in finance context, a gift is something of value (usually Rs 50,000 and above) given to a loved one.
A team led by deputy commissioner of the Income Tax department Vikram Pagaria was attacked on Wednesday during a raid on the premises of edible oil trader Sanjay Bansal.
BJP MP GVL Narasimha Rao countered the TDP leaders’ claim that the central government ordered the I-T raids in Andhra Pradesh as the elections were round the corner.
Describing it as a political vendetta by BJP-led NDA government, Ramesh said he has nothing to hide and he will cooperate completely.
Bahl is the founder of the Quint news portal and the Network18 group and is a known media entrepreneur.
This is the second extension within a fortnight of the CBDT, earlier extending the deadline for tax payers whose accounts have to be audited from September 30 to October 15.
The surprise Income Tax (I-T) raids on various real estate firms and other companies, which started on Friday, continued on Saturday.
Shivakumar, according to his associates, is attempting to bridge the gap between the ministers and Chief Minister H D Kumaraswamy.
Income Tax Department officials conducted raids on the firms of senior TDP leader and industrialist Beeda Masthan Rao in Nellore district and other places on Thursday.