Income Tax Department (I-T) is currently conducting searches at multiple locations in Mumbai, Pune, and Noida, including the offices and premises of promoters of Chinese home appliance company Haier. The searches are reportedly in connection with a tax evasion and royalty payment case.
The I-T department has not yet released any official statement on the matter, but sources say that the searches are being conducted at Haier's offices in Greater Noida, Mumbai, and Pune. The searches are reportedly being conducted under Section 132 of the Income Tax Act, which allows the I-T department to search premises without a warrant if it has reason to believe that there is evidence of tax evasion.
Haier is a Chinese multinational consumer electronics company that is headquartered in Qingdao, Shandong, China. The company is the world's largest home appliance manufacturer and has a significant presence in India. Haier's Indian operations are headquartered in Noida, Uttar Pradesh.
The I-T department's searches at Haier's offices come at a time when the government is cracking down on tax evasion by multinational companies. In recent months, the I-T department has conducted searches at the offices of several other multinational companies, including Amazon, Apple, and Samsung.
It is still too early to say what the outcome of the I-T department's searches at Haier's offices will be. However, the searches indicate that the government is taking a serious approach to tax evasion by multinational companies.
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