Income Tax investigation wing on Tuesday conducted searches on prominent real estate group — Phoenix Infrastructure — in Hyderabad.
Chukkapalli Avinash and others run the group and are into top real estate projects in the city. I-T is looking into the suspected income tax evasion by the real estate firm.
I-T sleuths conducted searches on the offices of Phoenix group and the residences of directors.
Searches were conducted in multiple locations like Jubilee Hills, Moosapet, Madhapur and other offices and residences.
During the searches, the Income Tax wing took the help of paramilitary forces for security. Phoenix ventures are located at Gatchibowli, Jubilee Hills, Film Nagar and Shamshabad.
