 "tax evasion")
A large number of brokers and investors are under the scanner of the income-tax (I-T) department for allegedly executing fraudulent trades in illiquid stock options.
According to sources, I-T officials on Wednesday conducted surveys and search operations at about 150 locations across the country, including Delhi, Mumbai, Hyderabad, and Kolkata. “We have launched a probe in the matter following information from the market regulator about irregularities in the equity derivative segment,” said a tax official privy to the development. The official added that this was a fresh probe based on the inspection of certain derivative contracts both on the BSE
