An official said the raids would continue for two days.
The searches were continuing till the reports last came in. Sources in the Income Tax department said that they were carrying out routine verification. (Representational image)
Hyderabad: Income-tax officers continuing their searches at the offices and houses of the directors of GVPR Engineers Limited have identified that Rs 6 crore of black money was utilised to buy a plot in Jubilee Hills. Sleuths recovered about Rs 2.75 crore. An official said the raids would continue for two days. He said the I-T teams had collected evidence regarding inflation of expenditure in the guise of sub-contracts.
( Source : Deccan Chronicle. )
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