Tax authorities visited Raymond textile company facilities on Friday to conduct official inspections. The department performed this survey under Section 133A of the Income Tax Act from 1961. Raymond confirmed full cooperation with investigating officials during ongoing proceedings. The company disclosed these details through regulatory filings to stock exchanges.
Survey operations differ significantly from search actions by having more limited scope. Officials can examine business records, create copies, and temporarily seize documents. However, seized materials cannot remain with authorities beyond ten working days without higher approval. The company previously resolved a customs dispute worth 328 crore rupees in early 2024.
Survey operations differ significantly from search actions by having more limited scope. Officials can examine business records, create copies, and temporarily seize documents. However, seized materials cannot remain with authorities beyond ten working days without higher approval. The company previously resolved a customs dispute worth 328 crore rupees in early 2024.
