The searches were conducted on suspicion that politicians were stashing black money ahead of the 30 November Telangana Assembly elections.
Published Nov 16, 2023 | 10:52 PM ⚊ Updated Nov 16, 2023 | 10:53 PM
(Representational image/iStockPhoto)
In a pre-dawn swoop, Income Tax (I-T) Department officials descended on the residences of businessmen in the Nalgonda district and Hyderabad in Telangana on Thursday, 16 November.
The searches were conducted on suspicion that black money was being stashed for use by politicians to bribe voters ahead of the 30 November Assembly elections in Telangana.
The I-T sleuths conducted searches at the residences of the rice mill owners and real-estate businessmen in Miryalaguda, Halia, Nalgonda, and Hyderabad.
Miryalaguda MLA and BRS candidate Nallamothu Bhasakra Rao refuted whispers of searches at his residence after rumours spread that several teams were going through documents pertaining to his investments in various companies.
He told reporters: “No I-T official searched my residence. They are all rumours. The Opposition parties are trying to defame me with an intention to gain political mileage in the election.”
The I-T officials reportedly searched the residence of the followers of Bhaskara Rao in Ravinder Nagar and the old town in Nalgonda, as well as the owner of Maheder Oill Mill and Rice Mill.
The officials are understood to have seized incriminating documents in their searches.
Sources said they pored over the documents related to financial deals and the I-T returns they had filed.
They also reportedly examined the account books of the companies and were trying to track the source of funds that had been invested in power and other infra companies.
However, Bhaskara Rao clarified that he did not have any financial dealings with any businessmen on whose premises searches were conducted. He, however, said that he knew them as voters of his constituency.
Recently, the I-T Department sleuths conducted searches at the Congress leaders Ponguleti Srinivasa Reddy, Parijatha Narasimha Reddy, and others, including at a benami property of a Telangana minister.
