Hyderabad – In a significant crackdown on tax evasion, the Income Tax (IT) department has initiated raids on multiple firms across Hyderabad, including Googee Properties and Anvita Builders. The operation, which began early Thursday morning, involves 30 teams conducting searches at the residences of directors and managing directors of the targeted companies in areas such as Jubilee Hills, Raidurgam, Kollur, and Sangareddy. Googee Properties, owned by Yasmeen Fatima and Shaik Akbar, has come under scrutiny for its business practices.
The firm has a diversified portfolio in the construction and handloom industries, operating not only in Hyderabad but also in surrounding districts. This is not the first time Googee Properties has faced allegations; in February 2023, the company's offices were raided over similar concerns regarding tax compliance. Authorities have been closely monitoring investments in Googee Properties, especially following Akbar's participation in the 2023 Telangana Assembly elections, where he contested from the Malakpet constituency.
Reports suggest that the current raids are focused on alleged violations of Income Tax regulations and other irregularities that may have been occurring within the firms. As the investigation unfolds, the IT department aims to uncover the extent of the alleged tax evasion and ensure compliance with the law. The outcome of these raids could have significant implications for the companies involved and highlight the government's ongoing efforts to crack down on tax evasion in the region.
