The I-T (Income-tax) department raided at the at the offices of IT hardware maker Lenovo on September 27 (Wednesday) as part of a tax evasion probe against the company and some of its affiliates, official sources said.
The raids were conducted at the offices in Haryana’s Gurugram and Karnataka’s capital city Bengaluru, they said.
Lenovo leads the global personal computer (PC) market with a 24% share.
The company clocked USD 1.9 billion in revenue in India in the financial year 2022-2023 , with a market share of 17% in the country.
The sources said the taxman suspects tax evasion and hence, has formed the searches to gather proof and corroborate actionable intelligence obtained by it in this regard.
Meanwhile, the concerned authorities from Lenovo said that they are complying with the officials incharge.
“As responsible corporate citizens, we adhere strictly to all applicable laws, regulations, and reporting requirements in every jurisdiction in which we do business. We are co-operating with the authorities and will provide all possible support required,” a spokesperson of the company said in a statemen.
