'I-T action on Bhaskar comes after allegations of tax evasio

‘I-T action on Bhaskar comes after allegations of tax evasion'
© Provided by The Times of India
NEW DELHI: The searches by the income tax departmemt on Dainik Bhaskar group follow allegations of siphoning of funds by the group which has interests in media, power, textiles and real estate apart from the names of some members related to promoters cropping up in the Panama Papers, government sources said on Thursday.
The probe by the tax department has focused on allegations of tax evasion by the group by allegedly claiming bogus expenses and purchases using shell entities. Sources accused the group of having floated “paper companies” for the purpose, with employees as shareholders and directors of entities.

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