Income Tax : This article explains how provisions of the Income Tax Act, GAAR, and the Benami law are used to tackle shell companies, unexplain...
Income Tax : The Supreme Court clarified that tax planning is valid only when backed by real commercial substance. It held that artificial stru...
Goods and Services Tax : The rise of AI-generated influencers and synthetic commercial actors is testing identity-based tax systems. The article explains h...
Income Tax : Courts distinguish lawful tax planning from criminal concealment. Recent rulings stress commercial substance and strict penalties ...
Income Tax : Indian law permits legitimate tax planning but strictly penalises concealment and fraud. Courts distinguish lawful avoidance from ...
Goods and Services Tax : The Delhi South CGST Commissionerate has arrested a key person linked to three firms for allegedly evading ₹16.30 crore in GST t...
CA, CS, CMA : Over ₹6.34 lakh crore in unpaid taxes linked to untraceable defaulters. Govt takes measures like asset tracking and account free...
Goods and Services Tax : DGGI blocks 357 illegal gaming websites, freezes Rs. 126 crore across 2,400 accounts, and cautions public against offshore online ...
CA, CS, CMA : Government surveys tax evasion, improves services, and details state-wise tax collections, highlighting growth in direct and indir...
Goods and Services Tax : Details of GST evasion cases by cryptocurrency exchanges in India, including investigations and actions taken by the Government of...
Income Tax : Delhi High Court ruled that prosecution under Income Tax Act Sections 276C and 278E can proceed when evaded tax exceeds Rs.25 cror...
Goods and Services Tax : The Court held that with investigation complete and evidence being documentary, continued custody was unnecessary. Bail was grante...
Goods and Services Tax : High Court directs authorities to investigate sale of frozen chicken at 0% GST instead of 5%, ensuring enforcement action against ...
Goods and Services Tax : Alipurduar Court rejects Naresh Kumar Agarwala's pre-arrest bail plea in ₹17 crore cement smuggling case, citing serious allegat...
Goods and Services Tax : Andhra Pradesh HC allows petitioners summoned in GST evasion probe to have advocate present during examination, citing apprehensio...
Goods and Services Tax : CGST, Vadodara, upon intelligence developed through data analysis, have booked a case of issuance of fake invoices valued at Rs. ...
Goods and Services Tax : DGGI arrested a managing Director (MD) of a company Following intelligence developed by the officers that fake invoices were recei...
Goods and Services Tax : The officers of Daman Cornmssionerate have detected a case of default in GST payment against Mrs Radha Madhav Corporation Limited ...
Goods and Services Tax : The registration procedure under Goods and Services Tax Act is simplified with the objective of ease of doing business. After onli...
Excise Duty : Circular No. 1009/16/2015-CX Whoever commits any of the offences specified under sub-section (1) of Section 9 of the Central Exci...
Shift in the Focus of the Income Tax Department (ITD) from Civil Consequences to Criminal Consequences in Serious Cases of Tax Evasion; During 2014-15 (upto Dec, 2014) the ITD Has Conducted Searches in 414 Groups, Seized Undisclosed Assets of Rs. 582 Crore; Undisclosed Income of Rs. 6769 Crore has been Admitted by the Tax Payers […]
Service Tax officials have arrested Myron John Remedios, managing director of Rare Hospitality and Services Pvt Ltd, on the charge of collecting service tax to the tune of Rs 4.5 crore and not remitting the same to the department. The Managing Director of the company was allegedly involved in the day to day operations of […]
ITD granted registrations/approvals/notifications to the 799 Trusts without verifying necessary documents such as copy of the Trust Deed, proper clauses in the Trust Deed, audited accounts etc. ITD granted registrations/approvals/notifications to 73 Trusts having no PAN which is in contravention of the provisions of Act.
Recently, GoI declared Cyprus as an NJA vide notification no. 86/2013 dated November 1, 2013, a move that increased the scrutiny on any business transaction with entities based in Cyprus by Indian Revenue authorities.
The Ministry of Finance of the Republic of India has issued a press release on November 1st, 2013 stating that it has taken the decision to notify Cyprus as a notified jurisdictional area under section 94A of the Income-tax Act, 1961.
As part of its ongoing initiative, the Income Tax Department has, on 22nd July, 2013 sent letters to another batch of 35,000 non filers. These persons were part of the around 12 lakh non-filers identified as a result of data matching exercise. With this latest batch, the Department has now issued letters in 2,10,000 high priority cases.
ISLAMABAD – The Islamabad High Court (IHC) has issued its detailed judgement on a petition challenging government’s amnesty scheme introduced by the previous government for smuggled vehicles, calling it illegal. Justice Shaukat Aziz Siddiqui of the IHC declared the SRO issued by the government on March 5, 2013 null and void and directed the Federal […]
During the current Financial Year 2012-13 (upto December 2012),The Directorate General Of Central Excise Intelligence, Chennai Zonal Unit has detected Central Excise duty & Service Tax evasion to the tune of Rs.362.45 Crores and has recovered an amount of Rs. 76.88 Crores on the spot voluntarily from various evaders of Central Excise duty as well as Service Tax.
The Central Government has given the notice in view of the possibility of tax evasion by some insurance companies of private sector. The names of the companies which have been served upon Show Cause Notices in 2012-13 (upto October 2012) are as follows:
The Central Board of Excise and Customs(CBEC ) has detected a total Central Excise and Service Tax evasion amounting to Rs.3333.28 crore and Rs.10286.73 crore respectively up to February, 2012 in the Financial Year 2011-12. Further, during the investigation, Central Excise Duty and Service Tax amounting to Rs.972.69 crore and Rs.1182.64 crore respectively has also been realized.
