Income Tax Department conducts searches at offices of popular cloth store in Telangana, AP

Also read: I-T raids continue for 2nd day at Mythri Movie Makers offices

Seizes documents, computers

During these searches, the sleuths seized crucial documents and computers, and laptops for a detailed examination to verify balance sheets.

More clarity on the irregularities allegedly committed by the management would be known only after verifying the records.

In October 2022, the I-T Department conducted similar raids on another famous clothes store and its branches in the twin cities of Hyderabad and Secunderabad and checked accounts and other records on computers with the help of the store’s accounts department staff.

A few days ago, the department conducted raids for two consecutive days at the house of blockbuster film Pushpa director Sukumar and Yerneni Naveen and Yalamanchali Ravi Kumar’s Mythri films office in Jubilee Hills in connection with alleged irregularities in filing I-T returns.

After examining the documents seized during the raids, the department was believed to have found investments made in purchasing large tracts of lands in the prime locations in the erstwhile Ranga Reddy district.

There were also allegations that several NRIs also invested money in making Telugu films in violation of norms and the same was also verified by the I-T sleuths.

A few politicians and some influential people in two Telugu states were reportedly found to have invested money in making Telugu films with the help of Mythri films.