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 ...
Income Tax : One of the main ways the government raises money is through taxes, which also have a big impact on a nation's economic growth. In ...
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...
This could be one the biggest admission of tax evasion by an individual in recent times. Munir Khan, who describes himself as a`scientist’ and has a medicine for all incurable diseases, on Friday paid Rs 22 crore as tax on his income for the current financial year. According to sources, the assessment wing of the […]
The Department of Sales Tax has issued 1 lakh notices to traders in the last two months for tax evasion. It has also filed 431 FIRs against them for not filing returns. Raids, surveys and business audits have been further intensified. Sources said that hundred of crores of bogus bills and hawala transactions have been unearthed by the department while spreading its dragnet for tax evaders.
The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and served a notice on him for evading taxes. According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the […]
Service tax evasion on deals of Rs 40 crore sale involving an industrial security service agency was detected during a raid by Suratservice tax officials on Monday. According to officials, who refused to divulge the agency’s name, the raids were conducted after reports of illegal transactions at the official premises of this agency came in. […]
Officials of the air intelligence unit at Delhi’s IGI Airport recently identified a traveler suspected to be carrying huge cash in his baggage. But before the suspect could be detained, he had boarded the aircraft for Hyderabad. All that the airline staff could divulge about the traveller were his initials and mobile number. The number […]
In order to plug tax evasion worth crores of rupees and also to stop the bogus VAT refunds, the Department of Excise and Taxation has issued new instructions to the iron and steel industry. According to the new notification, which was implemented on Wednesday, input tax credit on iron and steel goods will be available […]
After the Satyam scam, the role of chartered accountants (CAs) has come into focus again. This time the Income Tax (I-T) Department has found that CAs have given false certificates, enabling Non-Resident Indians (NRIs) and foreign nationals to evade taxes in India. The government agency has informed the Institute of Chartered Accountants of India (ICAI), […]
We have issued showcause notice as the company has not paid service tax on the underwriting commission paid by Infosys towards American Depository Receipt (ADR) for the years 2003, 2005 and 2006, said a senior tax official from service tax department.
The Ministry of Corporate Affairs (MCA) has asked the income-tax department to provide all information on tax evasion by listed companies so that it can see whether these firms have violated the provisions of Companies Act as well. “MCA is trying to develop a system that whenever the I-T department finds any such case where there is income-tax evasion or any practice of showing wrong amount in financial statements, the department would inform us also,” a senior ministry official said. He said usually such things involve violation of Companies Act too,
In what could be a major relief to the corporate sector, the Central Board of Direct Taxes (CBDT) has decided not to scrutinize tax returns of more than 1,000 top companies provided no serious disputes are pending against them. The annual returns of tax complying companies would not be scrutinized this year. The decision has been taken by the CBDT to encourage better tax compliance among the corporate,” a senior finance ministry official, who did not wish to be identified, said.
