Taxmen search Jindal office

The Income Tax (I-T) department on Wednesday conducted searches at the business premises of leading steel manufacturer Jindal Steel Works (JSW) in Mumbai, for possible evidence of tax evasion. HT reports.

The Income Tax (I-T) department on Wednesday conducted searches at the business premises of leading steel manufacturer Jindal Steel Works (JSW) in Mumbai, for possible evidence of tax evasion.

HT Image

A team of I-T officials from the investigation wing of Mumbai's I-T department conducted searches at one of the company's offices.

"The officials are scrutinising the documents they have found during the search operation, to find out whether any irregularity has taken place in financial dealings and transactions across the board," an official source said.

JSW, however, said that the search operation was a routine survey.

"It is part of a routine survey being conducted by the Income Tax department. They have certain queries and we are fully cooperating with them," JSW spokesperson Sharmila Banerjee told HT.

Sajjan Jindal-promoted JSW had, on March 15, announced its expansion plans, to become India's largest steel maker.