Income Tax

Dainik Bhaskar Income Tax Raids-CBDT alleges bogus income of Rs. 700 crores
Dainik Bhaskar Income Tax Raids-CBDT alleges detection of bogus income of Rs. 700 crores
 
The Income Tax Department had carried out a search operation on Dainik Bhaskar in 9 cities including Mumbai, Delhi, Bhopal, Indore, Noida and Ahmedabad.
 
The Income Tax raids had been severely criticised by the Dainik Baskar and other media houses and it was alleged that the raid was an attempt to stifle free press in view of recent criticism of the BJP Government.
 
In a press release, CBDT has alleged that the group had been operating several companies for booking bogus expenses and routing of funds.
 
According to the CBDT, the quantum of bogus income is Rs. 700 crore spread over a period of 6 years. CBDT has also alleged violation of Companies Act and Listing Agreement 
 
The CBDT has stated that the instance of diversion of Term Loan taken from bank has also come to its knowledge.
 

Read CBDT Press Release Click Here >>

 
----------- Similar Posts: -----------
Share
Leave a Comment

Recent Posts

  • Income Tax

In absence of mala fide intention bank should not be treated as assessee in default

In absence of mala fide intention bank should not be treated as assessee in default for late deduction and deposit…

2 days ago
  • Income Tax

Whether bank account was fraudulently open in the name of assessee is question of fact

Whether bank account was fraudulently open in the name of assessee is question of fact. High Court declined to entertain…

3 days ago
  • Concurrent Audit

SBI Concurrent Auditor Empanelment of Chartered Accountant Firms 2024-25. Last date 18.05.2024

SBI Concurrent Auditor Empanelment of Chartered Accountant Firms for FY 2024-25 SBI Concurrent Auditor Empanelment of CA Firms for FY…

3 days ago
  • Companies Act

Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants

Change in the constitution of Appellate Authority for CAs CSs and Cost Accountants In 2015, the Ministry of Corporate Affairs…

3 days ago
  • VAT

Trade Tax refund withheld beyond stipulated period & adjusted from demand unjustified – SC

Trade Tax Department was unjustified in retaining refund beyond stipulated period and adjusting it against default notices issued subsequently. In…

3 days ago
  • Income Tax

Notice issued u/s 143(2) prior to filing of return of income assessee is invalid

Notice issued u/s 143(2) prior to filing of return of income by the assessee was invalid. Before filing ITR provisions…

4 days ago