Hyderabad, Nov. 18 -- The Income Tax Department on Tuesday launched simultaneous raids at multiple locations linked to the chairmen and directors of popular city-based hotel chains Pista House and Shah Ghouse.
Reports stated that the IT teams are conducting searches at around 15 locations, including residences and business premises in Hyderabad and other cities. Officials are reportedly scrutinising a large volume of documents as part of the operation.
Both Pista House and Shah Ghouse are known to handle business running of crores every year, with branches spread across several Indian cities and even in Dubai. Initial reports suggest that the searches were triggered by discrepancies between the businesses' actual transactions and the inco...