IT Dept conducts raids on Vasavi Real EstateGroup in TS, AP

Hyderabad: The sleuths of the Income Tax (IT) Department on Wednesday conducted simultaneous raids on real estate company Vasavi Real Estate Group across Telangana and Andhra Pradesh. According to reports reaching here, the special teams of the IT Department conducted raids at several places including the company’s head office situated at Banjara Hills. During the raids, which were being conducted since morning, the sleuths seized crucial documents related to their projects. Reportedly, a case has been registered against the company because ‘there is a difference between the company’s income and the tax it pays to the government.