The income tax (I-T) department has initiated a search and seizure operation at Hyderabad-based infrastructure and engineering, procurement and construction provider BS Limited’s factory and office premises.
The agency also conducted search operations at the residence of the company's promoter directors on December 13.
“The department officials have sought certain information and explanations and the company is in the process of providing the same. The company does not expect any material tax liability to emanate out of the search ad seizure operation,” BS Limited said in a filing to the BSE on Monday.
BS Limited’s scrip is currently trading at Rs 111.40 on the BSE, up 0.32%, over the previous close of Rs 111.05 a share.
