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Excon, Excon 2011 Biggest Construction Equipment Trade fair India.

 
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Steel  

Income tax Dept raids Bhushan Steel, Bhushan Power

 
03/04/2010 11:30:00 AM
Bhushan Steel

The Income Tax Department has raided Bhushan Steel and Bhushan Power & Steel yesterday, sources said. A total of 11 premises were searched under section 132 of the Income Tax Act while 37 premises were surveyed under section 133A.  The Delhi Investigative Wing of the I-T Department is heading the raid operations.

 The operations were conducted nationwide on 48 premises, both business and residential. Operations were conducted in Delhi, Chandigarh, Kolkata, Orissa, Ranchi, Mumbai, Raigarh, and Ghaziabad. Alleged bogus expenses and cash sale outside the books of accounts is the likely cause for the raids. When contacted, Bhushan Steel denies any raid operations.

 
 
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