The Income Tax Department has conducted raids at various locations in three states on the premises belonging to Chinese home appliance firm Haier in connection with a tax evasion case, a source said on Saturday.
As of now, the Income Tax Department has not issued any official statement on the matter.
According to the source, the search operations were carried out in Mumbai, Pune, and Noida.
The searches, which began early in Friday morning, went on till late in the night.
The firm allegedly hid its income, and there were some discrepancies in royalty payments. The I-T teams reportedly checked the accounts and invoices of the last three years.
The company has also not made any statement on the matter as of now.
(The story has been published via a syndicated feed.)
