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Hyderabad, October 7 (IANS) Income Tax Department on Tuesday discovered Rs 300 crore pulses (pulses) trade matters at several places in Andhra Pradesh and Telangana.
The Income Tax Wing was discovered in the premises of four pulses traders at 25 places in Telugu states.
The discoveries were conducted in Hyderabad, Guntur, Vijayawada, Kurnool and Visakhapatnam.
During the raid, the pulses were held as part of an investigation into the business case, the authorities seized some major documents.
The department is considering the allegations that some business companies resorted to large -scale transactions during the previous government in Andhra Pradesh. Companies were reportedly engaged in cash transactions around the 2024 assembly elections.
These business companies were tended by the Andhra Pradesh Civil Supplies Department. The IT department is trying to verify whether these companies have failed to supply DAL under the Public Distribution System (PDS) despite receiving the payment.
Earlier, the discovery was made in the premises of Hindustan traders in Visakhapatnam and in the premises of We Care Group Companies in Kurnool.
Last month, the Income Tax Department discovered a large -scale black market transaction allegations in the country’s largest gold traders, in the premises of the Cap Gold Company.
Search was made at about 15 places in Hyderabad, Warangal and Vijayawada. IT officials also discovered the company’s headquarters in Banjara Hills in Hyderabad.
The department is considering the allegations that the company made gold from the black market and twisted a large amount for sale.
Caps Gold is buying gold in bulk from Mineral Development Corporation and is supplying it to retail jewelers.
Wholesale firms associated with CAPS Gold also came under a scanner of IT officers for large -scale tax evasion and fraud transactions.
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MS/VD