Bogus input on tax credit lands Zee, L&T in I-T net

The Income Tax Department on Monday carried out limited verification exercise at the office premises of the Zee Group and Larsen and Toubro to verify into their bogus inputs about tax credit, official said.
income tax
Picture Credit : The Financial Express

New Delhi, Jan 4 : The Income Tax Department on Monday carried out limited verification exercise at the office premises of the Zee Group and Larsen and Toubro to verify into their bogus inputs about tax credit, official said.

A senior IT official, requesting anonymity told IANS, “There are no searches or raids but we are carrying out limited verification exercise at the offices of the Larsen and Toubro and Zee group as we had information that they had claimed bogus input tax credit.”

The official said that it is basically a follow up exercise and there is limited action on both the groups.

“We are covering these group and the companies related to these groups on account of this bogus input taxes,” the official added.

The official, however, refused to share the details of the offices where the verification process is being carried out.

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