Hyderabad IT raids | Hyderabad, Nov. 19: Income Tax teams continued Hyderabad IT raids for a second day across several locations. Officers searched the homes of the owners of Shah House, Mehfil, and others hotels.
Teams moved in early on Tuesday and checked many properties. Officers examined financial papers and seized hard disks. They also questioned workers to trace key records.
Moreover, officials said the returns showed clear gaps.
Teams reached the Rajendranagar home of Pista House owner Mohammad Majeed. They also searched the home of Mohammad Abdul Moshi.
Officers checked digital entries and matched them with daily sales. They tracked tax payments linked to the hotels. They also reviewed the chain’s expansion plans.
Furthermore, teams noted a sharp rise in yearly turnover.
Hyderabad IT raids widen across business network
The hotel groups run a large network in Hyderabad. They also operate branches in many Indian cities. They even run units abroad.
Officials said the wide footprint helped them map cash flow. They also linked stock purchase records with bank entries.
In addition, teams checked vendor payments and franchise agreements. They looked for income that did not appear in official filings.
The searches drew attention because these chains move huge volumes during festival seasons. They also record heavy sales on weekends.
Officers said the numbers did not match declared income. They continued checks through the day and sought more files from staff.
The teams also verified supply orders from meat, grain, and bakery units. They compared them with declared production.
The drive showed growing scrutiny on food chains with fast expansion. Officials said they will complete checks before they issue notices. They also said more units may face review. The Hyderabad IT raids will continue until officers close verification.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
