IT & ED continue raids at granite firms in Hyd & Karimnagar

Hyderabad: Officials of the Income Tax department and the Enforcement Directorate on Wednesday conducted joint searches at the offices and residence of owners of granite firms including Minister Gangula Kamalakar.

The simultaneous searches were on at about 20 locations in Hyderabad and Karimnagar at the residence and other premises of the civil supplies and backward classes welfare minister and other granite businessmen.

Teams of IT and ED officials conducted simultaneous searches. They were reportedly checking the records and transactions at the offices of granite industries at Panjagutta, Hyderguda, Somajiguda and other areas in Hyderabad.

The searches were carried out at the minister's house in Karimnagar town and also on the offices of granite industries owned by his relatives in Mankammatota and Kaman areas.

The minister or his family members were not present during the searches.

The IT and ED officials are believed to have taken the action following allegations of tax evasion and FEMA violations against granite businessmen.

The ED had earlier issued notices to eight industries.

The central agencies are believed to be checking the records pertaining to exports and alleged illegal excavation of granite quarries.