Income-Tax officials on Wednesday conducted searches in the house and offices of Kukatpally TRS MLA Madhavaram Krishna Rao. The searches had conducted in connection with Praneeth Homes Company's financial transactions in which the MLA's son Sandeep Rao is continuing as one of the directors.
The sleuths who carried out wide-range raids have also questioned the family members of Mr. Rao. IT raids at his offices and residence are a result of tax-evasion and irregularities in the real estate firm (Praneet Real Estates) that's run by his son Sandeep Rao.
According to our political reports, the search operation is still underway and there's no official word from the TRS legislator. Properties belonging to Praneet Real Estates also searched by IT officials.
The Income Tax officials raiding actors and film producers created ripples in the industry on Wednesday. But, the raids were not just confined to film personalities but, they also conducted a search operation at residence and offices of politicians too.