Income Tax raids

The Income Tax Department has carried out searches on 29.10.2020 in the cases of four prominent contractor groups based in Patna, Bhagalpur, Hilsa, and Katihar. In addition, surveys have been conducted on some traders of mined rocks in Gaya....

Ministry of Finance Income Tax Department conducts searches in Uttar Pradesh Posted On: 29 OCT 2020 A search action was started by the Income Tax Department on 28.10.2020 in the case of a Bijnor based group engaged in real estate business and it’s associates. There were allegations that the group companies were having huge security pre...

The Income Tax Department has carried out searches on 28.10.2020 at 22 premises in Coimbatore, Erode, Chennai and Namakkal on a group engaged in the running of Educational Institutions and their associates, including a civil contractor. The search was carried out on the basis of information that fees collected from students were not fully...

What leads to income tax raids, searches and seizures? The main reasons are non-compliance with summons under Section 131(1) of the Income Tax Act, 1961, (hereinafter referred to as the Act) or a notice under Section 142(1) of the Act (described in Chapter VII, infra), likely non-compliance with such summons or notice, or the possession ...

Often termed as Raid by laymen, income tax survey and search are becoming increasingly common as businesses continue to grow. Apparently, there is no word called raid in the Income Tax Act. The two important tools which the department uses are survey and search and when one or both of these two operations get initiated, people term it as ...

Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been noticed that the certain section of media have referred to the Discussion Paper, circulated during […]...

Arjuna: Krishna, Which may be biggest cracker if we correlated with the Income Tax Provision? Krishna: Arjuna, listen gladly, the salesmen in the market sells different types of crackers likewise there are various provisions in various laws. Accordingly in Income tax the biggest cracker is the cracker that explodes in 6 different ways, w...

Recently there have been large number of news in daily newspapers on the above subject. Brief facts are that a gang of 6 persons led by so called Sh. V.D.Goyal, Investigation Officer of Income Tax Department raided the house of Dr. Mohan Pandey, Saharanpur(U.P.) on 18/04/2012. They claimed that they belong to the Office of the CIT, Luckno...

The income tax department Monday raided the prestigious Lilavati Hospital here that is frequented by VVIPs, officials said. The raids began at around 9 a.m. in the hospital and the office of the trust which manages it, both located in the same premises in Bandra west. The hospital, worth an estimated Rs.7 billion, is at the centre of a b...

Income tax department officials on Friday conducted searches in the office and residence of TDP MP Nama Nageswara Rao. I-T officials raided Nageswara Rao's construction firm Madhucon in his native Khammam town besides premises at Hyderabad, sources s...