Shares of Indiabulls group firms fell up to 7 per cent today after the I-T searches. Hundreds of I-T sleuths and local police personnel conducted search operations at a large number of premises of the diversified group, department sources said. Indiabulls in a separate statement said that during the last year, the Group has paid an aggregate of Rs 782 crore as income tax and Rs 372 crore as service tax to the department. By PTI | Posted 13-Jul-2016Mumbai/New Delhi: The Income Tax Department on Wednesday carried out search operations at numerous offices and premises of Indiabulls Group including in Mumbai, New Delhi and Chennai for alleged tax evasion to the tune of about Rs 1,500 crore. "With reference to today's email received from the exchange, we would like to state that this morning, officials of the Income Tax Department came to some of our offices to check our books, in the normal course.

Source: Mid-Day July 13, 2016 16:30 UTC