Official sources mentioned the I-T department suspects tax evasion by Lenovo and therefore, has launched the searches to assemble proof and corroborate actionable intelligence obtained by it on this regard.
| Photo Credit: Reuters
The income-tax department carried out searches on the premises of IT {hardware} maker Lenovo on Wednesday (September 27)as part of a tax evasion probe towards the corporate and a few of its associates, official sources mentioned.
The raids lined the corporate’s premises in Haryana’s Gurugram and Karnataka’s capital metropolis Bengaluru, they mentioned.
Lenovo leads the worldwide private pc (PC) market with a 24% share.
The firm clocked $1.9 billion in income in India within the 2022-2023 monetary yr, with a 17% market share within the nation.
The sources mentioned the taxman suspects tax evasion and therefore, has launched the searches to assemble proof and corroborate actionable intelligence obtained by it on this regard.
