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Tax Evasion

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CBIC Guidelines for grant of Reward to informers

Goods and Services Tax : Learn about the CBIC Guidelines and requirements for grant of reward to informers for smuggling and evasion of duties and taxes un...

November 17, 2023 3804 Views 0 comment Print

Tax Planning Vs Tax Evasion Vs Tax Avoidance

Income Tax : Explore the differences between tax planning, tax evasion, and tax avoidance. Understand how tax planning legally optimizes tax li...

July 20, 2023 26769 Views 0 comment Print

पार्टनरशिप फर्मों द्वारा प्रापर्टी डील पर टैक्स चोरी अब खत्म

Income Tax : माननीय सुप्रीम कोर्ट ने इनकम टैक्स की संशोधित धा...

December 6, 2022 4764 Views 0 comment Print

टैक्स चोरी में कैश, मुखौटा कंपनियों और फर्जी इनवायसिंग का हो रहा धड़ल्ले से इस्तेमाल

Income Tax : हाल में ही सरकार ने जीएसटी में एक महत्वपूर्ण बदला...

December 25, 2021 3723 Views 2 comments Print

Illiquid Stock Trading and Tax Evasion

Income Tax :  ILLIQUID STOCK TRADING AND TAX EVASION  1. The ‘scam’ So a new scam beckons us. That of allegedly executing fraudulent trad...

August 13, 2021 11163 Views 1 comment Print


Latest News


DGGI Uncovers ₹57,000 Cr Fake ITC Cases, 500 Arrests

Goods and Services Tax : DGGI reveals over 6,000 fake ITC cases, ₹57,000 Cr GST evasion, and 500 arrests from April 2020 to September 2023. Explore the f...

October 19, 2023 753 Views 0 comment Print

Better utilize AI, data-analytics & other technologies to identify tax evasion

Goods and Services Tax : We need to better utilize AI, data-analytics, IoT and other technologies to identify fraudulent practices, such as detection of ta...

September 18, 2022 1215 Views 0 comment Print

10 recent policy measures to curb GST evasion by fraudulent persons

Goods and Services Tax : Centralized suspension of registrations pertaining to registered persons who default in timely filing of returns is being carried ...

August 10, 2022 3621 Views 0 comment Print

Customs duty evasion of Rs. 2217 crore by Vivo Mobile

Custom Duty : DRI detects Customs duty evasion of Rs. 2,217 crore by M/s. Vivo Mobile India Pvt. Ltd. During an investigation pertaining to M/s ...

August 4, 2022 474 Views 0 comment Print

Navi Mumbai CGST Commissionerate busts Rs. 70 Crores Fake GST ITC Racket

Goods and Services Tax : Navi Mumbai CGST Commissionerate busts Rs. 70 Crores Fake GST Input Tax Credit (ITC) Racket The officers of Navi Mumbai CGST Commi...

January 10, 2022 2529 Views 0 comment Print


Latest Notifications


Benami Transactions (Prohibition) Act, 1988

Corporate Law : In 1973, the Law Commission of India after studying various Acts and prevailing benami system, recommended formulating an Act to t...

September 5, 1988 19129 Views 0 comment Print


Information on income tax can be disclosed under RTI

January 11, 2010 964 Views 0 comment Print

In a ruling that is bound to have ramifications, specially on big tax-payers , and in a move aimed at curbing tax evasion, the Central Information Commission has ruled that seeking information on income tax is not invasion of privacy. Ruling out that disclosure of information would lead to unwarranted invasion of the privacy of the individual

Income tax department matching politicians poll affidavits with their Income Tax Return

January 5, 2010 556 Views 0 comment Print

The finance ministry has quietly initiated the process of opening up the income tax files of politicians belonging to all parties and tallying their income statements with the affidavits filed by them with the Election Commission during the 2009 parliamentary polls. Verification of the assets declared by the Lok Sabha candidates, many of whom have now become MPs and even ministers, will help the department to assess if they had paid appropriate taxes as declared in their statements with the two different authorities.

Change of method of accounting of overdue charges from mercantile basis to cash system does not create any income

January 4, 2010 3055 Views 0 comment Print

In the instant case, learned counsel for the Revenue is not in a position to demonstrate or satisfy us that due to the change of accounting method adopted by the respondent/assessee , which is permissible in law as per the ratio laid down in (i) CIT v. Matchwell Electricals (I.) Ltd. (2003)263 ITR 227 (Bom) and (ii) Hela Holdings Pvt. Ltd. v. CIT (2003) 263 ITR 129 (Cal), the Revenue suffered any loss or such a change of methodology attracts tax evasion. Concededly, there is no finding to that effect in the assessment order or in the order of the Commissioner of Income-tax (Appeals).

IT department investigating tax evasion by showing bogus investment losses, May take action against chartered accountants

January 2, 2010 829 Views 0 comment Print

Income tax department in the past has stumbled up on many strange things, but nothing as strange as a company exclusively providing bogus stock contract notes to evade taxes, a trail that may lead to it knocking on the doors of many auditors. The Mumbai I-T department estimates that around Rs 1,000 crore of taxes may have been evaded by producing these bogus investment losses, and it now knows the beneficiaries too, a senior department official in the know of things said.

Scrutiny Assessment under the Income-tax Act with Special reference to Annual Information Returns

December 14, 2009 7310 Views 1 comment Print

The scrutiny of returns had been a regular measure to check tax evasion since long. The collection of information for the purpose of making enquiries in the course of such scrutiny assessments is as much important as the assessment proceedings itself. There are various provisions in the Income-tax Act, 1961 for the purpose of collecting information directly from the assessees as also from the others for the purposes of making such enquiries at various stages of assessment proceedings. The findings of such enquiries are utilized for the purposes of completing the assessment proceedings in the case of a particular assessee.

Essays on Tax Planning – Res Judicata

December 14, 2009 690 Views 0 comment Print

Tax Planning :- Tax planning as a concept had at a point of time suffered degradation and for a while seemed to be a euphemism for tax evasion. This was the fall-out of some observations in McDowell’s case, [154 ITR 148 (SC)] especially in the separate opinion of Justice Chinnappa Reddy. But the libel did not stay too long. Sabyasachi Mukherjee, Justice of the Supreme Court salvaged its respectability by observing tax avoidance by genuine transactions is not evil.

CBEC proposed to launch third party information system to tackle service tax evasion

November 10, 2009 288 Views 0 comment Print

Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up to obtain all apposite data to trap the tax evaders.

Two Income tax officer caught red handed on CCTV trying to break fellow officer's safe to steal files

November 6, 2009 755 Views 0 comment Print

Mumbai: A late-night adventure by two senior income-tax (IT) officers, who sneaked into the room of one of their colleagues and broke open a cupboard to gather information on a leading city builder, went awry recently, leaving the investigation wing of IT red in the face. The duo was caught on the closed-circuit television at Aaykar Bhavan, and the issue has now snowballed into a nasty fight, with the IT top brass in Mumbai trying to pacify the warring officers.

Court granted bail to arrested income tax commissioner from Nagpur

October 30, 2009 897 Views 0 comment Print

A special court on Wednesday granted bail to arrested income tax c o m m i s – sioner from N a g p u r, Ajoy Singh, his wife, Mrinalika and two other relatives arrested in Hyderabad. While Singh was released on a bail amount of Rs 5 lakh, the others were released on Rs 1 lakh each.

Indo-American doctor convicted for $16 Million tax evasion

October 14, 2009 588 Views 0 comment Print

Indian American doctor convicted for $16 mn tax evasion Oct 9 (IANS) A federal jury has convicted an Indian American cardiologist for evading more than $16 million dollars in income taxes and filing false tax returns.