New Delhi, July 25: The Central Board of Direct Taxes (CBDT) has issued a statement on the Income Tax Department (IT) raids on Dainik Bhaskar Group, saying that they have come to know about tax evasion of Rs 700 crores. The company has moved around Rs 2200 crore in its own companies.
At the same time, the group also made their stand in this regard through newspapers and website. He says that the irregularities pointed out by the department are not actually wrong.
On behalf of the Bhaskar management, it has been said in the statement, “There is no error in the irregularities reported by the department. Full factual information and documents are being provided to them on all these issues so that the situation can be clarified.
A statement in this regard was issued by the Income Tax Department on Saturday. The statement said that the Bhaskar Group has committed tax evasion of Rs 700 crore during the last six years. The company has been involved in cyclical trading of around Rs 2200 crore. The group has violated the rules related to the market (stock market). It has created many companies in the name of his employees, which have been used to show false expenses and divert money.
On July 22, the Income Tax Department had simultaneously raided the houses and offices of the promoters of Dainik Bhaskar and Bharat Samachar in connection with tax evasion. The Income Tax Department said in a statement that it has seized cash worth over Rs 3 crore. Also, unaccounted transactions worth Rs 200 crore were detected.
At that time there was a statement from Bhaskar that during the second wave of Corona, the government has raided Dainik Bhaskar Group, which had a real picture of government flaws in front of the country. Several offices of Bhaskar Group were raided by the Income Tax Department in the early hours of Thursday. Teams of the department have reached offices located in Delhi, Madhya Pradesh, Maharashtra, Gujarat and Rajasthan and action is on.
The Income Tax Department in its statement has raised several issues and questioned the functioning of the group. It says the group has interests in the media, real estate, textiles and power sectors. The group holds stake in around 100 companies. Many information has been received during the search, the investigation of which is going on.
According to the news published in Bhaskar newspaper, the Income Tax Department issued a statement in the middle of the investigation claiming that they have found irregularities in some documents. However, legal and tax experts say that it is extremely unusual for the Income Tax Department to issue a statement in the middle of an investigation.