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Hyderabad, Income tax (IT) officials on Wednesday searched properties of top realtors in the old city on suspicion of large-scale tax evasion.
Searches were conducted at around 40 premises linked to Kohinoor Group And red rose group In HyderabadGurugram, Noida and Karnataka.
IT officials searched the residences of Mohd Qadri Ahmed and Mohd Amjad of KM Kohinoor Realtors Pvt Ltd at Rain Bazar and their offices at Gudimalkapur.
residence of red rose group Promoters Syed Hameeduddin, Mohd Sami Ur Rehman and others were also searched at AD Bazar.
Red Rose Group is under construction RR Pan Masalareal estate (WIIZ Realtors And Wise Properties), spices business and hospitality. factories of RR Pan Masala Searches were conducted in Gurugram, Noida and Karnataka.
IT officials also carried out searches at Crystal Mansions in Kings Colony and the residence of Majeed Khan, a director of the firm. Ceremonial palaces owned by the groups were also searched.
The investigators were allegedly looking into investments/transactions of real estate companies with politicians. In July 2018, IT officials had searched the properties of Red Rose Group and seized Rs 2 crore in cash from them. They were probing unaccounted cash transactions in real estate and pan masala business of Red Rose Group.
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