According to sources officials said on thursday unaccounted income of more than Rs 2,000 crore was detected in telangana and andhra pradesh during the searches conducted by the Income Tax Department last week. Meanwhile the Central Board of Direct Taxes on thursday also announced seizure of "incriminating evidence" from the residence and other premises of former andhra pradesh chief minister N Chandrababu Naidu's ex- private secretary Pendyala Srinivasa Rao.
Furthermore the IT sleuths carried out search and seizure at more than 40 premises in hyderabad, vijayawada, kadapa, Vishakhapatnam, delhi and pune on february 6. The search action included three prominent infrastructure groups based in andhra pradesh and telangana, said a spokesperson of the Central Board of Direct Taxes (CBDT). Perhaps investigations led to busting of a major racket of cash generation through bogus sub-contractors, over-invoicing and bogus billing. Several incriminating documents and loose papers were found and seized during the search, apart from emails, whatsapp messages and unexplained foreign transactions unearthed during the search, said an official release.