The company has categorically denied that it is making “speculative press reports” about Income Tax officials discovering bogus expenses by Hero MotoCorp.
see photosHero MotoCorp in an official statement has strongly denied reports of “fake expenses”.
Hero Motocorp has reacted to media reports alleging that the company made fraudulent expenditure of over ₹1,000 crore, which was discovered during raids by Income Tax Department officials. Strongly denying the allegations, Hero MotoCorp has issued a press statement which categorically denied that this is a “speculative press report”. Earlier today, some reports quoting sources in the IT department said that India’s largest two-wheeler manufacturer made fraudulent expenses, as well as cash transactions of over ₹100 crore, for a farm house in Delhi’s Chhatarpur area. Gone.
Read also: Hero MotoCorp made fraudulent expenditure of more than ₹ 1,000 crore, alleges IT department
Hero MotoCorp has issued an official statement categorically denying media reports alleging financial misconduct. The report, quoting sources in the IT department, said that Hero MotoCorp made fraudulent expenditure of over Rs 1,000 crore.
Read also: Hero MotoCorp terms IT raids as ‘routine inquiries’
“The allegations made in the press reports do not arise out of any document which has been given to us or our internal documents. Therefore, we categorically refute the speculative press reports. We would like to clarify that the Income Tax Department officials Let’s visit our offices in the last week. The company has provided all the support and cooperation, necessary documents and data to the authorities and will continue to do so if required,” said a statement issued by Hero MotoCorp.
“As soon as the tax department concludes its findings and informs us, we will suitably notify the exchanges,” the statement said. Hero MotoCorp is a law-abiding corporate, with strong internal financial controls and its The financial statements are duly audited.”
Read also: Income Tax Department raids Hero MotoCorp Chairman Pawan Munjal’s office and resident
0 notes
Reports of allegations of “fake expenditure” emerged today after the Income Tax Department conducted several raids at Hero MotoCorp’s offices and even the residence of Chairman and CEO Pawan Munjal. From March 23-26, 2022, Income Tax Department officials conducted a search and seizure operation covering over 40 locations in the Delhi-NCR region. The raid is believed to be part of a tax evasion investigation against Hero MotoCorp.
for the latest auto news And WaitFollow carandbike.com Twitter, Facebookand subscribe us youtube Channel.