NEW DELHI: The Income Tax department on Wednesday carried out searches at the premises linked to Hero MotoCorp chairman and MD Pawan Munjal and several others in a suspected tax evasion case, department officials said.
According to senior IT department officials, the searches started this morning at the residential premises of Munjal and other top executives of Hero MotoCorp in Gurgaon and Delhi. An official, wishing not to be named, also shared that searches at over two dozen locations across the country are currently underway at the premises linked to Hero MotoCorp.
The official said that teams of the Income Tax department are checking the financial and other business records of the group and executives linked to it. Hero MotoCorp is the country’s biggest two wheeler brand in India and it enjoys a good market share in the country.