I-T Dept conducts searches at Arshiya International

Sleuths of Income Tax Department conducted searches at the premises of Arshiya International, a logistical player, for suspected tax evasion.
"We have conducted searches at the company's head office in Mumbai and its warehouses in Panvel (Navi Mumbai) and Khurja (Uttar Pradesh)," said an official of the Department's investigation wing here today.
I-T sources said the searches were conducted yesterday and Arshiya's books of accounts were taken into possession. "We have taken the custody of the books of accounts, both manual and electronic," said the official.
When contacted, Ajay Mittal, Group Chairman and Managing Director of Arshiya, a listed firm, termed the I-T action as "survey" and said the company co-operated with the officials in the exercise.

"They wanted some documents and those were given to them yesterday and today. They wanted some information of transaction effected in FY08 and FY09," Mittal said, adding all the required data were provided to the I-T sleuths.
The company scrip gained 0.15 per cent to close at Rs 15.25 a piece at the BSE, whose 30-share benchmark ended the session with 0.22 per cent gains.