The Income Tax department on Monday conducted limited verification exercise at the office premises of the Zee Group and Larsen and Toubro for verifying bogus inputs provided by them regarding tax credit.
“There are no searches or raids but we are carrying out limited verification exercise at the offices of the Larsen and Toubro and Zee group as we had information that they had claimed bogus input tax credit,” a media report quoted an IT official as saying on condition of anonymity.
The official reportedly informed that the exercise was carried out as a follow-up action.
The official informed that they were covering Zee Group and L&T and the companies related to these groups on account of the “bogus input taxes”.
However, the official did not share the details about the locations of the offices where the verification process was carried out.