I-T dept carried search operation on GMR properties: FinMin
The government informed Parliament that Income Tax department had conducted search operations on the GMR Group offices for alleged violation of tax laws.
December 13, 2012 / 20:45 IST
The government informed Parliament that Income Tax department had conducted search operations on the GMR Group offices for alleged violation of tax laws. "Following the search action, investigations have been undertaken, utilising the evidences gathered during the search proceedings," Minister of State for Finance SS Palanimanickam said in a written reply to the Rajya Sabha.
Also Read: GMR up on reports to sue Maldives for cancelling contractThe amount of tax evaded, he said, would be "quantified after compilation of assessment or re-assessment of income". The Hyderabad-based GMR Group is an infrastructure enterprise active in airports, energy, highways and urban infrastructure sectors. The Group has built and are operating airports at Delhi and Hyderabad. The Group also has a global presence in countries including Turkey, South Africa, Indonesia, and Singapore.It was in the news recently following the decision of Male government to cancel GMR's deal to run the island nation's main airport and taking over the operations itself. According to media reports, the I-T department had conducted search and seizure operations on GMR offices in Delhi, Mumbai, Bangalore and Hyderabad. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
