I-T search continues at Suzlon, wind farms

 The Income Tax (investigation) directorate yesterday started surveys in the offices of Suzlon Energy and its subsidiaries and wind farms across the country. Surveys of at least six windmill installers and suppliers of equipment in the four districts of Ahmednagar, Sangli, Satara and Dhule have also been conducted.

 The survey operations were part of a nationwide move on wind mill owners and equipment suppliers. Income Tax authorities believe that several wind mill owners have been making false depreciation claims to evade taxes.

 "There is concrete evidence against parties claiming false depreciation benefits resulting in tax evasion," S K Sharma, Director General of Income Tax (investigation) of Pune, said.

 "It has come to our notice that many of these windmill installers and equipment manufacturers have been misusing the relevant provisions of claiming depreciation value. Every year, windmill firms claim depreciation benefits surpassing over Rs 1,000 crore. We have specific information where windmill players have claimed depreciation and tax benefits even without generating any electricity," he added.