Summary:
By Express News ServiceNEW DELHI: The Income Tax Department on Friday conducted searches at 30 locations on a “prominent” business group based in Hyderabad. It only hinted that it is “a prominent business group having interest in infrastructure, irrigation, hydrocarbons and power sectors”. According to the sources, the searches were done by a team from Delhi; the Hyderabad unit was not in the loop. During the raid, the I-T officials seized unaccounted assets worth Rs 17.4 crore and huge quantum of data from the company systems. “Evidence of illegal payments through hawala channels running into hundreds of crores have also been seized,” an official said..