Hyderabad: The income-tax department conducted searches at several textile showrooms owned by Sai Silks group and on the residences of its promoters in the two Telugu states on allegations of irregularities in filing I-T returns. Searches were conducted at multiple locations in Hyderabad, Vijayawada and Visakhapatnam.
Searches began at around 7 am and continued till late evening on Tuesday. The I-T teams were ccompanied by armed central forces.
Sources said the officials verified a large number of of documents, data in electronic devices, account books. Those searched include Kalamandir, KLM Fashion Mall, Vara Mahalakshmi, Valli Silks, Mandir showrooms in Hyderabad and parts of Andhra Pradesh.
The I-T department did not confirm the findings of the searches and the outcome and the group did not offer comment.
