News Desk, AnyTV, New Delhi
Published by: Shiv Sharan Shukla
Updated Thu, 03 Mar 2022 07:18 PM IST
Summary
The Central Board of Direct Taxes (CBDT) in its statement said that during scrutiny of documents of the company, it has been found that the company has misappropriated taxable income in its books of accounts. The CBDT said that during the course of investigation the officials of the company could not give any valid reasoning about these allegations.
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The Central Board of Direct Taxes (CBDT) in its statement said that during the scrutiny of the company’s documents, it has been found that the company has misappropriated taxable income in its books of accounts, such as warranty provisions, doubtful debits, loans and advances taken. Amount etc. The CBDT said that during the course of investigation the officials of the company could not give any valid reasoning about these allegations.
According to information received from sources, on February 15, the Income Tax Department had raided several premises of Chinese telecom company Huawei located in the country. The action was taken in connection with the investigation of tax evasion. Official sources said the department had probed the company’s Delhi, Gurugram and Bangalore premises for tax evasion. During the course of action, the company’s financial documents, books and records of the company were scrutinized. Some records of the company were also confiscated. Sources said that the Income Tax officials have taken this action in connection with the investigation of tax evasion against the company, its Indian business and foreign transactions.
After the investigation, Chinese telecom company Huawei had said that the company is doing business in India according to the law. Huawei had issued a statement saying that we have received information about the income tax team coming to our office and questioning some personnel. The Company believes that its operations in India are in compliance with all laws and regulations. For more details we will contact the concerned government departments. We will cooperate fully with the investigation.
Last year, there were income tax raids on Chinese mobile companies Xiaomi and Oppo. The department had caught tax evasion of Rs 6500 crore in these raids.
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