Media baron Raghav Bahl at The Indian Express office in New Delhi. (File/Express Photo by Neeraj Priyadarshi)
The Income Tax department on Thursday conducted searches at the business and residential premises of media entrepreneur Raghav Bahl. The investigation is related to alleged evasion of long-term capital gains tax when Bahl sold his shares in a finance company a couple of years ago, tax department officials said.
A senior tax official said Bahl was being investigated for allegedly making “bogus” long-term capital gains in the scrip of a finance company around two years ago. Searches and surveys were also conducted at the premises of three other individuals, with no apparent links to Bahl, but on the same charge of “bogus gains” of long-term capital gains from offloading stake in the same finance company as Bahl, the official added.
There was no statement from the tax department on the searches.
In Bahl’s case, the searches and surveys were conducted at various locations in Delhi, Noida, Ghaziabad and Bengaluru. “Investigation teams of the Income Tax department also went to the premises of The News Minute in Bengaluru,” said the official.
Bahl is the founder of the Quintillion Media Pvt Ltd which runs The Quint website, and the Network18 group. Quintillion is also an investor in The News Minute, a news portal.
In a message to the Editor’s Guild, Bahl said he was in Mumb...