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...
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.
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.
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.
Income Tax department today recovered documents of tax evasion worth crores of rupees during a survey at a software company in Sitapura industrial area here. Teams of Mumbai, Kanpur and Pune directorate of IT department in coordination with the Jaipur office raided three places in Jaipur and conducted survey of three companies in Jaipur, Kota and […]
Acquisition of unlisted foreign companies by Indian corporates has come under the scanner of income-tax (I-T) authorities who plan to scrutinise the deals to ensure they are not being structured to evade tax. Deals involving equity swaps are particularly in focus, as these could be used to transfer part-ownership of Indian companies to overseas jurisdictions.
India and Switzerland will soon start negotiations to enlarge the scope of their bilateral double taxation treaty to allow sharing of details of bank accounts of people accused of tax evasion, visiting Swiss Vice-President and Minister of Economic Affairs Doris Leuthard said on Thursday.
The Central Board of Direct Taxes (CBDT) has introduced a new software programme, called ‘360 degree profiling’, which would provide automatic alerts for scrutiny assessment of an individual or a company to the income tax department, based on its investments and expenditure.
Income tax officials from India could be posted in the tax haven nations to collect information about tax evasion from these countries; if a proposal made by a committee set up to investigate abuse of tax treaties goes through.
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 […]
MAT – Making Companies slim Ms. Kareena Kapoor style Introduction: 1.0 The objective of new Direct Tax Code (DTC) as stated in the Discussion Paper (DP) published are broadening the base, minimize exemptions, horizontal and vertical equity etc. Since the proposed DTC touches all the aspects of taxation of income of all the types of […]
