Bangalore Business News

Tax raids on 4 business groups in six cities

Tax raids on 4 business groups in six cities

Bengaluru: The investigation wing of the Income Tax Department raided 34 premises of four leading business groups in six cities across the country, said an official on Wednesday.

“The searches were conducted at 34 premises of four groups, which are into hotel, hospitality and food business in Bengaluru and Mangaluru, Delhi and Faridabad (Haryana), Indore and Mumbai,” said department’s Joint Director G. Ramesh in a statement here.

The official, however, declined to identify the groups raided, saying the names “cannot be disclosed at the time of investigation”.

Sources in the city police, whose personnel provided security to the tax department sleuths, told IANS that among the premises raided in Bengaluru were a leading gold and jewellery retail chain and a leather goods outlet.

“As the search and seizure exercise is continuing, details will be given after completing the investigation,” added Ramesh.

IANS