Income tax searches against Polisetty Somasundaram group

By Newsmeter Network  Published on  28 Jan 2020 10:47 AM GMT
Income tax searches against Polisetty Somasundaram group

Vijayawada: Income tax sleuths carry out searches in around 12 locations against properties owned by Polishetty groups, involved in tobacco trading.

Following inputs on IT evasion, teams from Andhra Pradesh IT department launched searches against properties owned by group directors Abhinava Sundaram polisetty, Lakshmiparvathi Polisetty and others.

Polisetty Somasundaram, a private limited company, based in Krishna district of Andhra Pradesh, was incorporated in 1968.

The longest serving director currently on board is Lakshmiparvathi Polisetty, holding the post for the last 24 years. While the other recently appointed director, Abhinava Sundaram Polisetty has the largest number of other directorships with a seat at a total of 3 companies.

Records show that, the company is connected to 2 other companies through its directors.

More details awaited.

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