I-T dept searches premises of media baron Raghav Bahl

New Delhi, October 11

The Income Tax Department on Thursday carried out searches at residential and official premises of media baron, Raghav Bahl, proprietor of Quint portal and founder of Network 18 TV channel, in Noida, Delhi and Bangalore.

There were allegations of him receiving benefits of “bogus” long-term capital gains (LTCG) and in connection with a case of alleged tax evasion, a senior official of the Central Board of Direct Taxes said.

The official said that all offices of Quint were not searched. The searches were carried out only at a few offices where the IT sleuths hoped to get some incriminating documents and other evidence related to the case of benefits of LTCG received by Bahl and others.

Apart from Bahl, three other “beneficiaries” and professionals, Om Prakash Lalwani, Anoop Jain and Abhimanyu, were searched. 

When asked if these people are connected with Bahl, the official said that they were also beneficiaries of LTCG. Their business links to offshore entities are being investigated, the official said.

The LTCG benefits were being received by Bahl and others through the sale of shares of some companies.

Bahl, who was in Mumbai at the time, shared his “great concern” with the Editors Guild. — TNS