Income Tax Department Raids premises of Pawan Munjal

According to news agency ANI, Income Tax Department conducted raids at different premises of top officials of Hero Motocorp, including Pawan Munjal on Wednesday morning. Reportedly these raids were carried out at residences of these officials as well as the company's office in Gurgaon. The income tax department is reportedly investigating tax evasion allegations against Hero Motocorp. Scrutiny of the company’s financial documents and business transactions is being done by the IT officers. Hero Motocorp has a presence in 40 countries of Asia, Africa, South America, and Central America. It has 8 manufacturing plants, 6 in India, one in Bangladesh, and one in Colombia. A few days ago, in another incident, the IT department carried out different raids at 45 premises across Delhi-NCR, Chandigarh, Ludhiana, Lucknow, and Indore of a leading real estate firm in North India. This eventually led to the seizure of unaccounted cash of more than ₹25 crores and jewellery worth ₹5 crores.