I-T searches on builders in Hyderabad, Tirupati

HYDERABAD: The Income Tax department’s investigation wing conducted searches at offices of prominent developers in Hyderabad and Tirupati on Saturday. I-T sleuths swooped down on offices of CPR Constructions Pvt Ltd in Madhapur, Hyderabad, and near Leela Mahal Centre in Tirupati and seized an undisclosed amount of cash. Sources said while Rs 8 lakh was found in CPR Construction’s Tirupati office, around Rs 40 lakh was found in the Hyderabad office.However, I-T officials are yet to ascertain how much of this cash is unaccounted for.
Search operations were also carried out at residences of CPR Constructions managing director K V Chalapathi Reddy and director Kasi Viswanath Reddy.
CPR Constructions has developed projects such as Bella Vista at Tellapur and Palm Ridge near Botanical Gardens at Kondapur in Hyderabad. In Tirupati, it has projects like Urban Apartments on Renigunta Road, CPR Windsor and CPR Golden Palms near Leela Mahal Centre.
Meanwhile, in a separate case, I-T sleuths conducted searches at DSR Constructions in Hyderabad and land owner N Subash, who gave land for development to the builder. Searches were also conducted on land owner of Sumeru Infra Park in Hyderabad. The department is verifying whether there was any tax evasion in both the cases.