Hyderabad (Telangana): Income Tax sleuths are conducting raids in several areas in Hyderabad on Wednesday. The IT officials began conducting raids in the early morning hours. The IT sleuths have been divided into 20 teams which are searching for different places. Simultaneous raids were conducted on the offices of the Excel Group company and its subsidiaries and the houses of its owners from 6 am.
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The IT officials are investigating allegations of irregularities in income tax payments. The raids are being conducted at the Excel office in Gachibowli and Excel Rubber Limited near Mind Space, Bachupally, and Chandanagar in Hyderabad. About 60 IT personnel participated in these raids.
