Lenovo said it is assisting with authorities' Income Tax searches

Lenovo said it is assisting with authorities' Income Tax searches

As part of an investigation into tax evasion involving Lenovo and several of its affiliates, the department carried out searches at the company's Gurugram and Bengaluru offices on Wednesday.

Lenovo, a Chinese PC manufacturer, announced on Thursday that it is cooperating with law enforcement and has pledged all assistance with respect to any searches made at its facilities by the Income Tax Department.

As part of an investigation into tax evasion involving Lenovo and several of its affiliates, the department carried out searches at the company's Gurugram and Bengaluru offices on Wednesday.

We strictly abide by all applicable laws, rules, and reporting obligations in every area where we conduct business as responsible corporate citizens. We are working with the authorities and will offer any necessary assistance, according to a Lenovo spokeswoman.

The business generated USD 1.9 billion in revenue in India in 2022–2023 and held a 17% market share there.

Sources claim that the department was looking for evidence to support actionable intelligence it had already acquired regarding tax evasion after developing suspicions of it.