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Income tax raids on premises of media website founder Raghav Bahl, three businessmen

Raghav Bahl.   | Photo Credit: Twitter account of Raghav Bahl

The Income Tax Department on Thursday conducted searches in the residences and offices of four businessmen, including that of Raghav Bahl, founder of media website The Quint, for alleged tax evasion on the proceeds of the sale of shares in a company.

“Today, the Income Tax Department conducted searches on the premises of businessmen Raghav Bahl, Kamal Lalwani, Anup Jain and Abhimanyu Chaturvedi,” a spokesperson of the department confirmed to The Hindu.

 

“We are looking at a possible tax evasion of more than Rs. 100 crore in the case of Mr. Bahl himself on account of some long-term capital gains that have accrued to him through the sale of shares of a particular company,” the spokesperson said. “The other three have also been beneficiaries of the sale of shares of the same company, which is why all four of them have been covered together.”

In a statement to the Editors Guild of India, Mr. Bahl said The Quint was fully tax compliant and they would provide access to all the appropriate financial documents.

“I have a matter of great concern to share with the Guild,” Mr. Bahl wrote.

He said:

“While I was in Mumbai this morning, dozens of IT officials descended on my residence and The Quint’s office for a ‘survey.’ We are a fully tax compliant entity, and will provide all access to all appropriate financial documents.

“However, I have just spoken to the officer on my premises, one Mr. Yadav, and requested him, strongly, to not try and pick up or see any other mail/document which is likely to contain very serious/sensitive journalistic material.

 “If they do that, then we shall seek extremely strong recourse. They should also not misuse their smartphones to take unauthorised copies of this material. I am now on my way back to Delhi.”

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Printable version | Jan 21, 2021 3:51:56 PM | https://www.thehindu.com/news/national/it-raids-at-premises-of-media-baron-raghav-bahl/article25187793.ece

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