Income Tax Dept Conducts Raids On Lux Industries At Multiple Locations Over Rs 200 Crore Tax Evasion Allegation

The Income Tax Department is conducting raids at Lux Industries over the allegation of tax evasion worth Rs 200 crore in mutiple locations.

New Delhi: The FMGC company Lux Industries has been raided by the Income tax department over the tax evasion allegation worth Rs 200 crores in several locations. The department is currently conducting the investigations in multiples cities at premises linked to the company including Kolkata.

On raids by the Income Tax Department, Lux Industries say, "We would like to submit that survey is being conducted at our premises and the company is extending its full cooperation to the authorities. We would like to further inform that as the survey is yet to be concluded we are unable to make an assessment of its impact. Once the survey concludes, the Company will update the Stock Exchanges, in case there is any material impact resulting from the above survey."

More inputs will be added.