Quick Summary
The Income Tax Department on Tuesday carried out coordinated search operations on two of Hyderabad's most popular food chains -Pista House and Shahgouse Hotel. The raids were conducted simultaneously at the brands' corporate offices as well as the residences of their owners. According to officials,
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FAQ :
The Income Tax Department conducted raids on Pista House and Shahgouse Hotel in Hyderabad.
The coordinated search operations were carried out on Tuesday.
The raids took place at the corporate offices and the residences of the owners of Pista House and Shahgouse Hotel.
Four specialised IT teams were deployed as part of the operation.
The food businesses reportedly generate annual revenues running into several hundred crores, prompting the tax department to examine their financial records.
Sources indicated that the searches were still underway, and further details about the findings are awaited.
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