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Tax Evasion: IT department searches Lenovo as part of tax evasion probe

NEW DELHI: The income-tax department conducted searches at the premises of IT hardware maker Lenovo on Wednesday as part of a tax evasion probe against the company and some of its affiliates, official sources said. The raids covered the company’s premises in Gurugram in Haryana and Karnataka’s capital city Bengaluru, they said.
Lenovo leads the global personal computer (PC) market with a 24 per cent share.
The company clocked USD 1.9 billion in revenue in India in the 2022-2023 financial year, with a 17 per cent market share in the country.
The sources said the taxman suspects tax evasion and hence, has launched the searches to gather evidence and corroborate actionable intelligence obtained by it in this regard.

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