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IT dept searches Indiabulls group offices, stocks tank
NEW DELHI: The Income Tax department on Wednesday conducted multiple searches on the premises of Indiabulls group for suspected tax evasion. Officials said the department
Published on: Jul 14, 2016, 06:12:16 IST
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NEW DELHI: The Income Tax department on Wednesday conducted multiple searches on the premises of Indiabulls group for suspected tax evasion. Officials said the department had received “actionable evidence” prompting the operation. Indiabulls Housing Finance Ltd said in a clarification to the BSE that “We are extending all assistance to the team of officials. We are confident that the officials will find our corporate practices and books satisfactory.” The impact on stocks was immediate. Indiabulls Ventures tumbled 6.86%, Indiabulls Wholesale Services by 4.89%, Indiabulls Real Estate 4.23% and Indiabulls Housing Finance by 3.89% on Bombay Stock Exchange.
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