HYDERABAD: The Income Tax Department conducted searches at the corporate offices of Googee Properties and Developers, as well as Anvita Builders, early Thursday morning.
Raids were also carried out at the residences of the companies’ managing directors and directors in Kollur, Rayadurgam, Jubilee Hills, and Sangareddy.
Approximately 30 teams of IT officials participated in the searches. Sources suggest the companies are being investigated for alleged tax evasion over the past two financial years.
Agency sources also revealed that the companies’ business expansions overseas are under scrutiny, as officials are examining transactions and tax returns to identify any potential irregularities.
Googee Properties and Developers is owned by Congress leader Akbar Shaik, who contested in the last Assembly Elections from the Malakpet Assembly Constituency.