Income Tax department raids Gallantt Ispat premises, seizes documents

Income Tax department conducted search operations at the office and factory premises of Gallantt Ispat as well as at the residences of promoters and officers of the company, according to a company's filing on Monday.

The company in the exchange filing said that any impact with respect to the search will be intimated in due course.

"Income Tax Department, Ministry of Finance has in exercise of power under section 132 of the Income Tax Act, 1961 has carried out an Income Tax Search Operation at the plant office and factory premises of the company together with other business offices and residential houses of promoters and officers of the company," Gallantt Ispat said.

The company said that the department has seized a few documents and records of the company for further processing in the search.