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Income Tax - Maharashtra Sales Tax Department has published ‘List of Suspicious Dealers, who have issued false bills, without delivery of goods. Such dealers have commonly referred as ‘hawala dealers’ The fact that the list purports to name only ‘Suspicious’ Dealers and not ‘confirmed hawala dealers’. ...
Read MoreIncome Tax - Now-a-days Income Tax department investigates alleged trading/investment in shares and securities with collusion/connivance with any listed companies or with share broker by conducting Search/ Survey or by asking details u/s 133(6) of the Income Tax Act 1961....
Read MoreIncome Tax - In a recent judgment, the High Court of Punjab & Haryana, in case of Abhishek Modgil Vs State of U.T. Chandigarh, dated June 12, 2020, granted anticipatory bail to 24 years young boy accused on account of committing an offence of tax evasion to the tune of Rs. 4,02,00,136 by generating bogus invoices of sales and […]...
Read MoreIncome Tax - Surinder Jit Singh Chief Commissioner of Income Tax-3, New Delhi sjsingh59@gmail.com Surinder Jit Singh is graduate in Mechanical Engineering from Punjab Engineering College in 1981 and joined Income Tax Department in 1984 as an IRS officer and has worked at Chandigarh, Ludhiana, Pune, Bombay, Amritsar and at Delhi in various capacities ...
Read MoreIncome Tax - ITAT Mumbai held in the case of Hiralal Chunilal Jain vs. ITO that addition for alleged Bogus Purchase not sustainable as AO had made the addition solely on the basis of information received from the Sales tax department without making any independent inquiry or following the principles of natural justice before making the addition. ...
Read MoreIncome Tax - Anti Evasion wing of CGST Delhi has detected a case of Input Tax credit fraud through fake invoices issued by bogus firms. Investigations led to discovering the accused had also been generating bogus e-way bills to back the fake invoices....
Read MoreIncome Tax - irectorate General of GST Intelligence (DGGI), Gurugram Zonal Unit, Gurugram arrested Sh. Rajiv Gupta on 23.10.2019, partner in M/s RST Batteries, Mundka Delhi and Director of M/s RST Batteries Pvt. Ltd Bahadurgarh, Haryana for orchestrating a racket involving fake invoices valued at more than Rs 136 crores thereby defrauding the Governme...
Read MoreIncome Tax - Chennai Zonal Unit of the Directorate General of Central Excise Intelligence Conducts Investigation under Summons Against 16 Insurance Companies Engaged in Providing Motor-Vehicle Insurance Policies, for Wrongly Availing Cenvat Credit to the Tune of Rs. 1200-2500 Crore on the Bogus Invoices of the Car Dealers....
Read MoreIncome Tax - Buy goods from a trusted seller who files return and thereby pays due tax collected from you. Mere 2B statement filing by selling dealer not sufficient – selling dealer needs to back it up with return....
Read MoreIncome Tax - In the biggest tax evasion fraud of this financial year, the State Excise and Taxation department has unearthed a bogus billing scam to the tune of Rs 656.71 crore by three renowned Ludhiana firms — Singhania International, Shree Vallabh Exports and Krishna Ispat Limited. As per investigations, the firms — all of which deal in [&helli...
Read MoreIlesh Amrutlal Gadhia Vs DCIT (ITAT Mumbai) - The issue under consideration is whether the disallowance u/s 69C of entire purchase amount by considering it as bogus is justified in law?...
Read MoreMr. Ashok Kumar Vs Commissioner CGST & Central Excise (Bombay High Court) - Mr. Ashok Kumar Vs Commissioner CGST & Central Excise (Bombay High Court) Taking into consideration, the facts of the case, though the officers under the CGST Act, cannot seek custody of the arrested persons for completing the investigation, respondent’s contention that applicant’s detention...
Read MoreACIT Vs Rashmikant V. Shah (ITAT Mumbai) - The issue under consideration is whether the CIT is correct in restricting the disallowance u/s 69C against bogus purchase at rate of 12.5% of the bogus purchases?...
Read MorePrateek Gupta Vs. DCIT (ITAT Mumbai) - The issue under consideration is whether the addition made by CIT(A) on account of bogus purchases at rate of 12.5% of purchase u/s 69C is justified in law?...
Read MoreGaurav Maheshwari Vs State of Rajasthan (Rajasthan High Court) - Gaurav Maheshwari Vs State of Rajasthan (Rajasthan High Court) High Court has decided to grant the bail to the petitioner who is allegedly guilty of creating bogus firms/companies solely for the purpose of fraudulently creating and issuing GST invoices without any sale/purchase and actual movement o...
Read MoreNA - (11/11/2019) - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 11th November, 2019 PRESS RELEASE Income Tax Department busts a major racket of bogus billing & hawala transactions Income Tax Department carried out searches in the first week of November, 201...
Read MoreF.No.287/30/2014-IT (inv. II)-Vol-III - (16/03/2016) - Assessing Officer to ensure that information available in the 'Penny Stock' functionality which may be useful for the purpose of cases presently under scrutiny, is examined and considered while finalizing assessments and considering reopening of cases u/s 148 of the IT Act, 1961. ...
Read MoreIlesh Amrutlal Gadhia Vs DCIT (ITAT Mumbai) -
Mr. Ashok Kumar Vs Commissioner CGST & Central Excise (Bombay High Court) -
ACIT Vs Rashmikant V. Shah (ITAT Mumbai) -
Prateek Gupta Vs. DCIT (ITAT Mumbai) -
Gaurav Maheshwari Vs State of Rajasthan (Rajasthan High Court) -
Bhagatram, Hyderabad Vs ACIT (ITAT Hyderabad) -
Anup Ashopa Vs Union of India (Rajasthan High Court) -
Shri Pravin C. Bokadia Vs ITO (ITAT Mumbai) -
