Hyderabad: Income Tax (I-T) and Enforcement Directorate (ED) raids on the business groups continued for the second day in the city on Thursday. The I-T sleuths conducted searches on CapsGold and Vasavi realty groups and seized some documents on tax evasion.
Sources said the I-T teams verified the income tax payments by the Vasavi group and CapsGold companies in the past five years. The I-T officials grilled CapsGold’s Director Chanda Srinivasa Rao and his family members and sought vital information on the evasion of tax payment. The teams also rushed to Warangal and conducted searches in the houses of Chanda Srinivasa Rao’s family members, Chanda Abhishek and Chanda Sudheer.
Another I-T team analysed the documents of I-T payments made by Vasavi Group Chairman Yerram Vijay Kumar and questioned him for the delay in clearing pending Income Tax dues.
Meanwhile, ED officials conducted searches in the houses of Burugu Ramesh, a businessman, and his son Vikrant in Weldington Enclave at West Marredpally in Secunderabad. The directorate officials seized several key documents during the searches. Burugu Vikrant was the Director of Caspo Legal Services Private Limited, Mahadeva Jewelers and Rajshri Foods.
