Hyderabad: Income tax sleuths on Thursday raided 18 premises of Red Rose Group, an Infra & tobacco manufacturing company and at the offices of its entities Sri Aditya Homes Private limited and Kohinoor Infra. The raids were carried out on charges of tax evasion. On the first day, the taxmen seized unaccounted cash of Rs 1.5 cash and seized property documents. The searches will continue on Friday.
Sources told this newspaper that, “Searches were conducted in Red Rose group, which is into the business of pan masala, spices and real estate. The RR group have real estate transactions with two other entities, Kohinoor Infra and Sri Aditya Homes Private limited, which were also searched.”
Searches were also conduct at Bidar in Karnataka and Kandla in Gujarat connected to Red Rose Group. There are cash transactions in land deals and around Rs 1.5 crore in cash has been seized. The officials are verifying documents found.
