IT Department freezes Lulu Mall Lucknow’s bank account over Rs 27 crore dues

Lucknow: The Income Tax Department has frozen the bank account of Lulu Mall, Lucknow, over the alleged non payment of nearly Rs 27 crore in outstanding income tax dues.

Officials said the action was taken after the company failed to clear the liabilities despite repeated statutory notices. According to sources in the department, discrepancies were detected during scrutiny of documents related to tax liabilities and financial transactions.

The findings indicated possible tax evasion, following which the department invoked legal provisions and directed the bank to restrict operations on the concerned account. Officials said reminders and notices were issued to the company, asking it to deposit the outstanding amount within the prescribed time frame.

However, the dues remained unpaid. An officer familiar with the matter said that after completing due process and giving adequate opportunity to the company, freezing the bank account was necessary to safeguard government revenue.

The account will remain frozen until further orders or settlement of the outstanding tax.