An IT team raided two prominent nursing homes Phoenix and Srijan and took documents in its custody on Thursday.
The team also raided the residence of AMA President Dr JV Rai and his office.
The raids were reportedly conducted on allegations of tax evasions involving huge sums of money.
The 40-member IT team from Varanasi was divided into three parts.
One team went to Phoenix while the other headed to Srijan Hospital.
The third team went to the residence of Dr JV Rai who has recently been chosen as President of Allahabad Medical Association.
The teams are reportedly looking into the number of visiting patients and alleged irregularities in the sale of medicines.
Sources said the investigations were still on and no IT official has divulged the outcome till now.