Income Tax department conducts searches at Sharda Motor, Bharat Seat premises: Sources

I-T raids Sharda Motor, Bharat Seat: The Income Tax (I-T) department conducted searches at Relan Group companies — Sharda Motor Industries, and Bharat Seat Ltd, Zee Bussiness reported on May 19, Friday, citing official sources. The search has been on since morning in companies' select officials' homes and factories in Chennai, Delhi and Gurugram on bogus billing, the sources added. 

Sharda Motor manufactures suspension systems for all automobile companies in the country while Bharat Seats manufactures seats for automobile companies. The income tax department has raided about half a dozen places. On reaching out to the company, no response was received to Zee Business' queries, till the time of writing this news.

(This story will be updated shortly.)

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