IT searches media baron for ‘tax evasion’

NEW DELHI: The income tax department, which carried out multiple searches at the premises of media baron Raghav Bahl and his news portal Quint on Thursday, is scanning transactions of over Rs 200 crore to see if there were “bogus long-term capital gains” of Rs 118 crore allegedly booked by him and his wife.

The probe against Bahl gained momentum last year with disclosures in the Paradise papers, where investment trails led the officials to investigate transactions of Rs 200 crore made by three companies and their associated firms registered in tax havens such as Cayman Islands, Cyprus and Mauritius, sources said.

Apart from Bahl, three other individuals faced surveys and searches on Thursday with officials landing at the media baron’s residence and his office early morning. Bahl responded by tweeting a statement sent to the Editors’ Guild, saying he was was part of

... read more at: https://timesofindia.indiatimes.com/india/i-t-searches-media-baron-for-tax-evasion/articleshow/66171822.cms

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