The sleuths of the Income Tax (I-T) department on Monday carried searches on the premises of a real-estate company for allegedly selling prime land in Shadnagar to a multi-national company in violation of norms. I-T officials seized crucial documents and other computer equipment to examine them in detail to know violations allegedly committed by the real-estate company. The searches were conducted at the company’s offices in Chevella and Shadnagar.
Sources said the raids were carried out as the company failed to show the land transaction details in the balance sheet. They said more details about the violations could come to light only after examining the documents thoroughly..