Afcons Infrastructure Limited has confirmed that the Income Tax Department conducted a survey at its registered office and several zonal and regional offices on February 28, 2025. The company stated that it fully cooperated with the authorities, providing all necessary information and data as requested.
In an official communication to stock exchanges, Afcons assured that its business operations remained unaffected during the survey. “The business operations of the company continued as usual and were not impacted due to the survey,” the statement read.
The company did not disclose specific details regarding the purpose or findings of the survey but emphasized its compliance with regulatory requirements. The development comes amid increased scrutiny by tax authorities on corporate entities.
On February 27, Afcons Infrastructure’s share price dropped by 7.05% to ₹411.45, following reports of Income Tax officials conducting searches at its Mumbai and Delhi offices.
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