Archive · 18 Sep 2025
IT Raids CapsGold, Vasavi Group Over Tax Evasion
The Income Tax (IT) department has conducted raids on CapsGold, a large gold trader, and the Vasavi realty group in Hyderabad.
The IT department suspects CapsGold is involved in black market transactions and tax evasion.
The company is alleged to be sourcing gold from the black market and diverting large quantities for unaccounted sales.
IT officials searched about 15 locations and are scrutinizing the company’s financial records.
Searches were also conducted at the offices of Vasavi Realty group, with officials examining their IT returns.
This investigation aims to uncover potential tax discrepancies and fraudulent activities.
The Income Tax department conducted raids on CapsGold and Vasavi Realty.
Searches occurred in Hyderabad, Warangal, and Vijayawada.
Raids followed allegations of black market transactions and tax evasion.
CapsGold allegedly sourced gold from the black market.
Officials are examining Vasavi Realty's IT return filings.
- Who
- Income Tax Department, CapsGold, Vasavi Realty
- What
- Searches conducted over tax evasion and black market transactions
- When
- Not specified
- Where
- Hyderabad, Warangal, Vijayawada
- Why
- Due to suspected tax evasion and illegal gold sourcing.
CapsGold
IT Department
Tax Compliance
CapsGold
Not Available
IT Department
Suspects tax evasion and illegal financial activity
- Companies Involved
- CAP Gold Private Limited, Vasavi Realty Group
- Department Involved
- Income Tax Department
- Locations Raided
- Hyderabad, Warangal, Vijayawada
- Reason for Raids
- Allegations of tax evasion, black market transactions
- Findings
- Potential tax evasion, fraudulent transactions
