Income Tax officials on Tuesday conducted searches at the offices of the Telecom Employees Housing Cooperative Society, residences of members of the society, and the offices of two builders.
Sources said that the searches were carried out following allegations about irregularities in transactions of the society.
The society members made direct payments to the builders to buy land, instead of purchasing it directly from owners, sources said, adding that this amounts to violation of the provisions under the Revenue Act, and it attracts penalty under Section 119. Among the places where searches were conducted were 26 premises of LG Builders and Developers’ proprietor Govardhana Murthy and Rasasri Developers proprietor V. Anjaneyalu Prathipati.
Incidentally Mr. Govardhana Murthy is a film producer who was acquitted in a case related to murder of an actor.