Income Tax department busted a racket that has an unaccounted and unexplained transaction of the mammoth amount of Rs 2000 Cr income. Though the names were not disclosed, the hints are everywhere that few Big Fish were in struck in IT nets for now.
The IT Department had carried out Search and Seizure action on 6th February 2020 at Hyderabad, Cuddapah, Vijayawada, Visakhapatnam, Delhi and Pune covering more than 40 premises. The search action included three infrastructure groups based in AP and Telangana. Since the past few months, many of the IT searches have been going on at TDP leaders and their close aides. Now with the official press release from the Central Board of Direct Taxation is giving strength to the rumors from the past few days that these raids and seizes too were carried out at residences and premises of close associates of Ex-Chief Minister and TDP Supremo Chandrababu Naidu.