Income Tax

Dainik Bhaskar Income Tax Raids-CBDT alleges bogus income of Rs. 700 crores

Dainik Bhaskar Income Tax Raids-CBDT alleges detection of bogus income of Rs. 700 crores

The Income Tax Department had carried out a search operation on Dainik Bhaskar in 9 cities including Mumbai, Delhi, Bhopal, Indore, Noida and Ahmedabad.

The Income Tax raids had been severely criticised by the Dainik Baskar and other media houses and it was alleged that the raid was an attempt to stifle free press in view of recent criticism of the BJP Government.

In a press release, CBDT has alleged that the group had been operating several companies for booking bogus expenses and routing of funds.

According to the CBDT, the quantum of bogus income is Rs. 700 crore spread over a period of 6 years. CBDT has also alleged violation of Companies Act and Listing Agreement

The CBDT has stated that the instance of diversion of Term Loan taken from bank has also come to its knowledge.

Read CBDT Press Release Click Here >>

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