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

New Delhi: Income Tax Department searched the premises of IT hardware manufacturer Lenovo on Wednesday as part of a tax evasion Official sources said an investigation would be conducted against the company and some of its associates. He said that the raids included the company’s premises in Gurugram in Haryana and Bengaluru, the capital of Karnataka.
Lenovo leads the global personal computer (PC) market with 24 percent share.
The company generated revenues of US$1.9 billion in India in the 2022-2023 financial year, with 17 percent market share in the country.
Sources said tax officials suspect tax evasion and hence, have launched searches to collect evidence and confirm actionable intelligence received in this regard.

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