INCOME TAX SEARCH

Income Tax Department Conducts Search And Seizure Operations in Haryana

Income Tax Department Conducts Search And Seizure Operations in Haryana

The Income Tax Department had conducted a search and seizure operations on a diversified business group engaged in the manufacturing of plywood/plyboard, MDF board, inverter and vehicle batteries, and in the refining of lead on 11.01.2022.  More than 30 premises spread across the cities of Yamuna Nagar, Ambala, Karnal, and Mohali have been covered in …

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Right Of The Assessee To Cross Examine in Income Tax Search And Seizure: An Analysis

Right Of The Assessee To Cross Examine in Income Tax Search And Seizure: An Analysis

Introduction:- The principles of natural justice forms an integral part of procedural fairness and justness, thereby excluding the scope of arbitrariness. Even though the right of hearing, which forms a part of the principles of natural justice, before an order is passed under some of the provisions of the Income-tax Act 1961, is not specifically …

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Bank Lockers And Income Tax Search & Seizure: A Study

Bank Lockers And Income Tax Search & Seizure: A Study By CA Mohit Gupta

Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action (including bank lockers of such unconnected third parties) Introduction:- The authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned …

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A Study Of Incriminating Material Found During The Course Of Income Tax Search

A Study Of Incriminating Material Found During The Course Of Income Tax Search

Introduction: Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 or books of account or other documents or any assets are requisitioned under Section 132A after 31st May, 2003 but on or before the 31st Day of March’2021. In such case, the Assessing Officer …

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Findings Of Incriminating Material And Undisclosed Income Post Income Tax Search- A Study

Findings Of Incriminating Material And Undisclosed Income Post Income Tax Search- A Study

Introduction: Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132 (1) of the Act are satisfied. The jurisdictional facts that have to be established before a search under Section 132 (1) of …

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Must Read: Middle Men Provided End to End Encrypted Services for Tax Evasion But Income Tax Department Unearthed the Same

Must Read: Middle Men Provided End to End Encrypted Services for Tax Evasion But Income Tax Department Unearthed the Same

The Income Tax Department carried out a search operation that commenced on 23.09.2021 on a big syndicate involving certain businessmen/ middlemen of Maharashtra and some persons holding public offices. The intelligence was developed over 6 months. In all, 25 residential and 15 office premises were covered under the search, while 4 offices were covered under …

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Income Tax Search and Seizure: Irregularity versus an illegal Income Tax Search-An Analysis

Income Tax Search and Seizure: Irregularity versus an illegal Income Tax Search-An Analysis

Introduction: Section 132 of the Income Tax Act’1961 prescribes that the competent authorities are empowered to permit the authorized officers to enter, search, break open, seize, place marks of identification and take other steps as contemplated under sub-clauses (i) to (v). However, such powers can be exercised against a person upon fulfilment of certain conditions. …

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Business Concept’s Daily E-News Letter- 22nd September 2021. Only for TC VIP Users

Business Concept’s Daily E-News Letter- 22nd September 2021. Only for TC VIP Users

Business Concept’s Daily E-News Letter- 22nd September 2021 Please Click on News Heading to Read Full News Note: Only TC VIP Users can Access It For New User- More information, Please Visit Here [ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”2″ ihc_mb_template=”1″ ] GST How to File Form GST PMT-09 on GST Portal To file Form GST PMT-09, Please Navigate …

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sonu sood

Sonu Sood’s Charity Foundation Collected Donation But Not Fully Utilized in Relief Works : Income Tax Department

Actor Sonu Sood Evaded Over Rs 20 Crore In Taxes: Income Tax Department CBDT, in its official press release after Income Tax search on Sonu Sood’s premises, said that: The Charity Foundation incorporated by the actor on 21st July, 2020 has collected donations to the tune of Rs 18.94 crore from 01.04.2021 till date, out …

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filling fake ITR and making fake documents

ICAI took action in the case of filling fake ITR and making fake documents, Fifty thousand fine imposed on CA

The Institute of Chartered Accountants of India (ICAI), the regulatory body of chartered accountants, New Delhi has imposed a fine of Rs 50,000 on Suresh Kumar Goklani, CA of Jodhpur. Also, licenses have been suspended for 3 months. CA Goklani has been found guilty of filing ITR on the basis of false facts and making …

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INCOME TAX

Income Tax Department’s Search & Survey Operations on Real Estate Developers and Traders of Mobile Accessories Reveals 13 Secret Godowns and Many More

The Income Tax Department carried out searches on 17.03.2021 in the case of a prominent builder and developer group based in Mumbai. Searches were also conducted in the case of dealers engaged in the business of trading of mobiles accessories. In all, 29 premises located in Mumbai were covered under search operation, while 14 premises …

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Income Tax Department Conducts Searches in Hyderabad

Income Tax Department Conducts Searches in Hyderabad

Income Tax Department Conducts Searches in Hyderabad The Income Tax Department carried out search & seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad.  This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations.  Majority of the total manufactured products are exported to …

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