The Income Tax Department conducted raids on McDonald's India's south and west franchisee Hardcastle Restaurants over allegations that the firm has not disclosed its revenue, sources said.

The taxman is currently conducting raids at more than 20 locations. According to sources, the office premises, residence of the promoters are also being raided by the I-T Department.

The company said the 'visit' by tax officials was part of a routine survey being conducted by the IT department, and that Hardcastle was fully cooperating with them.

"Hardcastle Restaurants Private Limited adheres to the highest level of corporate governance and fully complies with tax laws of the country," the firm said in a statement.

The department is currently looking at multiple cases including generation of black money against the company.

Hardcastle Restaurants manages franchisees of West and Southern India for MdDonalds.

First Published:Apr 17, 2018 12:21 PM IST