Hyderabad: Income-tax (IT) officials have conducted raids on the residences of BRS’ Maheshwaram candidate P. Sabitha Indra Reddy's close associates and relatives at 15 different places in Hyderabad on alleged cash transactions. The officials carried out raids on the associates of a pharma company’s management for allegedly making cash transactions.
Sources said that the I-T officials carried out raids on the residence and office of Pradeep Reddy, a real estate businessman in the city and is a close relative of the minister. Pradeep Reddy is involved in the real estate business in the city outskirts. The raids were carried out at Nagulapally, Ramachandrapuram, Patelgua, Gachibowli, Miyapur and other places.
The I-T officials verified the sources of income of Pradeep Reddy and his business activities. Their income-tax returns (ITRs) were collected based based on which the officials inquired about the regular cash and digital payments transactions of Pradeep Reddy and his family members.
Sources said that the IT officials verified the call data of Pradeep Reddy suspecting he is a benami of some political leaders and inquired about his business activities. The bank accounts of business activities, saving accounts, and others have been seized by the IT officials.
the I-T officials have also conducted raids on K. Narender Reddy of Dr Reddy's Laboratories (DRL) for making allegedly suspicious cash transactions, including cash deposits in several accounts. The I-T officials have verified the details of Nagender Reddy's association with Dr Reddy's lab and links to political leaders.
Raids were conducted on AR Home in Miyapur, My Home Bhooja located at Gachibowli and verified the bank accounts of Reddy's family members and his friends.
Following the Assembly elections, the I-T officials have intensified the raids on several political leaders in the city. Earlier, the I-T officials conducted raids on Congress candidate from Palair Ponguleti Srinivasa Reddy and his offices. The I-T officials also conducted raids on Congress party leader Parijata Narsimha Reddy.
