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‘I-T action on Bhaskar comes after allegations of tax evasion’ | India News


NEW DELHI: Searches by the income tax department at Dainik bhaskar The group follows allegations of diversion of funds by the group that has interests in media, energy, textiles and real estate, in addition to the names of some members related to the promoters that appear in the Panama Papers, government sources said Thursday. .
The probe by the Taxes department has targeted allegations of tax evasion by the group by allegedly alleging false purchases and expenses using shell entities. The sources accused the group of having floated “paper companies” for this purpose, with employees as shareholders and directors of entities.
The money allegedly diverted is redirected to various personal and business investments, in the form of share premiums and foreign investments through Mauritius-based entities. The searches triggered a massive controversy, with the issue taking on a political color and the government being attacked by the opposition for “strangling” the media. The sources said that the operation in 32 stores, comprising residential and commercial premises, followed an analysis of the database of the tax department, banking and other inquiries.
When asked about the congressional accusation that the searches were politically motivated in response to Dainik Bhaskar’s reporting on the alleged underreporting of the Covid deaths, Information and Broadcasting Minister Anurag Singh Thakur said: “The agencies are making their own work and there is no interference in them. “The searches, which began around 5.30 in the morning and lasted until the night, were carried out in premises scattered throughout Mumbai, Delhi, Bhopal, Indore, Jaipur, Korba, Noida and Ahmedabad. it has an annual turnover of more than 6 billion rupees, it has more than 100 companies in its businesses, the tax department did not disclose whether the focus was on certain specific businesses. DB Corp Ltd, published by Dainik Bhaskar, is the flagship company. The coal-fired power generation business is conducted on behalf of Power dB.

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