Latest News | IT Conducts Search Operations at Lux Industries Premises

Kolkata, Sep 22 (PTI) The Income Tax department Friday conducted search operations at the various premises of hosiery major city-based Lux Industries Limited, the company said in a regulatory filing.

It is alleged that the company had evaded taxed to the tune of Rs 200 crore.

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The company in its regulatory filing with the BSE said that a search is being conducted at the premises of the firm and full cooperation is being extended to the central agency's officials.

"We would like to further inform that as the survey is yet to conclude, we are unable to make the assessment of its impact. Once the survey concludes the company will update the stock exchanges in case there is any material impact resulting from the above survey," the company said.

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The company shares fell 3.02 per cent on the NSE and closed at Rs 1473.50 apiece. PTI dc

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)