Hailing from Old Basti area of Hyderabad, Shahnawaz is well known as the owner of King's Palace. He is doing business of restaurants and function halls under the name King's Palace.
IT Raids In Hyderabad: Before the parliamentary elections, the city of Hyderabad is once again in the news.. In the old town area of Hyderabad, the Income Tax Department officials started checking the offices of a businessman from early morning on Tuesday. The offices and the gate of the trader's house are locked and the officials are conducting extensive checks.
Hailing from Old Basti area of Hyderabad, Shahnawaz is well known as the owner of King's Palace. He is doing business of restaurants and function halls under the name King's Palace. However, the IT department officials had earlier raided his offices as he had not disclosed the income details to the Income Tax Department. But he had already got the information that the authorities were coming, so he fled to Dubai. Stayed there for a while. After that he recently came to Hyderabad city. After getting the information, the IT officials are checking his offices, function halls and hotels from Tuesday morning.
There are allegations that Shahnawaz acted as a benami for the ruling political party leaders in the past. It seems that when the information was received by the IT department while the money was being adjusted for the party in the elections held at that time, it did the checks. But since this information was known in advance, Shahnawaz went to Dubai at that time.. The officials of the IT department have been keeping an eye on his activities since then. He recently came to Hyderabad for this purpose. Even now, as they have many properties, IT department officials have stepped into the field to find out their real details. As it is an old town area, central forces are maintaining security there. Meanwhile, once it was known that the IT officials were conducting inspections in the old city area, there was a commotion.