IT conducts search operations at Lux Industries premises

Kolkata: 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.

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.

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