Comments
The Income Tax department conducted search operations at the office and factory premises of Gallantt Ispat and at the residences of promoters and officers of the company, according to a company's filing on Monday.
The company, in the exchange filing, said that any impact with respect to the search will be intimated in due course.
"Income Tax Department, Ministry of Finance has in exercise of power under section 132 of the Income Tax Act, 1961 has carried out an Income Tax Search Operation at the plant office and factory premises of the company together with other business offices and residential houses of promoters and officers of the company," Gallantt Ispat said.
Also read: Govt to come out with angel tax rules before April 30 to address industry’s concerns
The company said that the department has seized a few documents and records of the company for further processing in the search.
Gallantt Ispat said that it is intimating to the stock exchanges in order to put to rest any speculative or baseless information circulating without the endorsement of the company.
Also read: ED raids Tangedco officials, South India Corporation; IT search at G Square continues
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.