IT dept raids telecom equipment trading firm; claims incriminating chats

The Income Tax Department has conducted raids at the premises of a company engaged in trading of telecom equipment as the CBDT claimed on Tuesday that it is examining alleged bogus claims worth crores made by the company to evade taxes.

The searches were launched on Monday at its five premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India, the Central Board of Direct Taxes (CBDT) said in a statement.

It added some “incriminating” WhatsApp chats have also been recovered.

The CBDT frames policy for the tax department.

“Issue of tax liability of hundreds of crores has been identified so far.”