I-T team conducts search operation on premises of Hero Motocorp

The Income Tax Department is conducting a search operation on the premises of Hero Motocorp in Gurugram and Delhi in connection with alleged tax evasion.

The search operation started this morning.

On Tuesday, the IT officials formed a team for the same.

According to sources, the team is in the process of seizing few documents. They are scanning the ledger accounts and going through the various transactions of last three to four years.

It will also record the statement of those present at the place where they are conducting the searches.

The CA of the company might be questioned regarding the business partner of the firm.

As of now, the IT department has not issued any official statement in this respect.