Hyderabad: The assessment wing of the income tax department, Hyderabad region, carried out a survey of the business and residential premises of industrialist Raghunath Mittal in Hyderabad and Adilabad districts on Wednesday.
The survey was reportedly taken up as part of an exercise to detect new tax payers and a proper assessment of the tax liability of a tax payer. Mittal is the owner of Raghunath Agrotech, one of the biggest manufacturers of cotton bales in the country.
This morning, separate teams of income tax officials arrived at the Banjara Hills residence of Raghunath Mittal and carried out the survey of his properties.
It is learnt that the officials also went through certain documents. Simultaneously, another team went to a premises in Adilabad district where the company's soya extraction plant is located.
Raghunath Agrotech has as many as seven ginning factories spread across Telangana State and Maharashtra.
The company exports raw material to a few countries including China, Bangladesh, Indonesia and Vietnam.
Sources said that the income tax teams collected information regarding the nature and scale of expenditure on private functions by the industrialist and his family. The company is also into real estate and renewable energy sectors.
Besides Raghunath Agro products, Raghunath Mittal is also the director for Swift Agritech, KK Proteins Private limited and Vinayaka Spintex Private limited. The cotton ginning facility was started in 1965....