Huawei transferred Rs 750 crore abroad, claim I-T Dept sources

NEW DELHI: Chinese technology company Huawei has been accused by the Income Tax Department of transferring Rs 750 crore to its foreign-based parent firms sources in the department have said.

The I-T had in February accused the firm of huge tax evasion and frozen its bank accounts.

The I-T department has reportedly found discrepancies in its income tax declaration.

“The I-T declaration of the last two years has discrepancies. The revenue of the company was decreasing, but we have found that even in this crisis they repatriated Rs 750 crore abroad,” the I-T sources claimed.

Huawei had said that they were following all the norms and law of the land.

The compnay had also said that due to the action of I-T department they suffered huge losses and it badly affected their business.