Surat: The Income Tax Department has carried out investigations at the offices and facilities of Waaree Energies, the company said in a statement. The large-scale operation reportedly involved 25 teams from Mumbai, Chikhli, and Vapi. The searches, which began at the company’s 5.4 GW solar cell gigafactory in Chikhli, continue today at around 25 locations across Gujarat and Maharashtra.

In a stock exchange filing, the company said,“We hereby inform that today certain officials of the Income Tax Department visited some of the Company’s offices and its facilities in India for conducting investigation under the Income Tax Act, 1961. The proceedings are underway and the Company is extending its full co-operation to the officials.”

Officials are verifying company documents, scrutinizing returns filed by the firm and associated individuals, and examining records of recent land transactions. The Gujarat-based renewable energy firm is reported to have purchased land on a large scale in Chikhli and Navsari, prompting the IT department to investigate potential tax irregularities related to these deals.

Additionally, the firm is under scrutiny in the United States for alleged duty evasion on solar imports. DeshGujarat