I-T dept to look into loans bribery case: official

Income tax department will look into tax issues in a loans bribery case, a finance ministry official said on Thursday.

Income tax department will look into tax issues in a loans bribery case, a finance ministry official said on Thursday.

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"The IT (income tax) department will certainly look into any tax angle involved in the matter," the Central Board of Direct Taxes spokesman Shishir Jha told Reuters.

Eight top officials including LIC secretary (investment) Naresh K Chopra, LIC Housing Finance director and CEO Ramchandran Nair, Central Bank of India director Maindersingh Johar, Bank of India general manager RN Tayal and Money Matters CMD Rajesh Sharma from Indian banks and financial firms were arrested on Wednesday on charges of taking bribes to grant corporate loans, dealing another blow to Indian markets already grappling with a multi-billion dollar telecoms scam.