Income Tax Search in Bihar: Black Money detected above Rs 100 crore
On November 17, 2022, the Income Tax Department conducted an IT Search and Seizure operation, which resulted in the discovery of black money worth more than Rs 100 crore. …
Tag: Search and Survey
IT Search identifies unreported capital gains above 1300 crore from JDAs
Search and Seizure operations conducted by Income Tax (IT) Department has unearthed Capital Gains of above Rs 1300 crores from JDAs, which were not reported by the concerned taxpayers. …
ICAI’s Handbook on Inspection, Search, Seizure and Arrest under GST (2022)
The ICAI has published the first edition of its ‘Handbook on Inspection, Search, Seizure, and Arrest under GST’ (August 2022), in order to explain the intricacies of the law …
SFIO arrests Mr. Dortse, Mastermind of floating Chinese shell companies in India
Mr Dortse is apprehended in Bihar by the SFIO of MCA before he can flee India via the road (via Nepal). He is accused of plotting/floating Chinese shell companies …
CBIC Instructions on Voluntary tax payment during GST Search, Inspection or Investigation
CBIC directs GST Investigation Officials to ensure that any tax payments made during a search, inspection, or investigation are made voluntarily by taxpayers using DRC-03 and that no coercive …
I-T Raids on a Chain of Educational Institutes reveals Siphoning of Trust Funds
The Income Tax (IT) Department has conducted raids/ search and seizure operation on 14/03/2022, at 25 premises situated in Maharashtra, Karnataka and Tamil Nadu, belonging to a popular chain …
New IT S. 79A to deny any set off of loss in the cases under search/ survey
Amendments proposed to disallow any set off of loss in the cases under search/ survey, the term “undisclosed income”, by inserting new Section 79A of the Income Tax Act, …
GST Evasion of 362 crore by 275 Firms issuing Fake Invoices: Bogus network busted by DGGI Ghaziabad
DGGI Ghaziabad officials have busted a bogus network of 275 firms involved in issuing fake invoices of more than Rs 3100 crore involving GST evasion of more than Rs. …
Rs. 653 Crores Customs Duty Evasion: Show Cause Notice to ‘Xiaomi India’
DRI has issued three show cause notices to Xiaomi India, demanding short paid duty of Rs. 653 crore on imported mobile phones during the period 01/04/2017 to 30/06/2020, for …
Cash seized Rs. 177 cr in Kanpur Search by DGGI Ahmedabad; Piyush Jain arrested
DGGI Ahmedabad has seized more than Rs 177 crore in Kanpur search operations. Search operations at Kannauj premises continue with recovery of Rs 17 crore, 64 kg gold and …