IT looks up pharmaceutical firms in Hyderabad

On Monday, the Income Tax (I-T) Department searched the Hyderabad locations of a few pharmaceutical businesses. Early this morning, at least ten teams of IT authorities started searching the homes and workplaces of pharmaceutical company executives in and around Hyderabad.

According to reports, the I-T officers were looking through bank transaction data in response to charges of tax avoidance. There were searches going on in Gachibowli, Patelguda in Ameenpur, and Nagulapally in RC Puram. The senior executives of pharmaceutical companies had their residences searched by IT personnel at My Home Bhooja, an expensive complex in the Gachibowli neighbourhood.