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Tuesday, August 12, 2025
TopicIncome Tax Department

Topic: Income Tax Department

Faceless assessment ‘scam’: How nexus of I-T officers & CAs rigged the system to net big fish

The agency has booked nine people, including I-T deputy commissioner Vijayendran R and two department inspectors, apart from a number of chartered accountants.

With amassed assets worth Rs 500-700 cr, how ‘corrupt’ ex-RTO constable has sparked political row in MP

Saurabh Sharma is on the run, and facing criminal proceedings by the state’s Lokayukta, I-T dept & ED over charges of amassing assets hugely disproportionate to his legal income.

Stock-in trade cannot be seized from bank lockers. I-T dept pulled up for seizure of company jewellery

The Punjab & Haryana High Court called the physical withholding of the jewellery belonging to Dillano Luxurious Jewels by the tax authorities "wholly unwarranted".

Why X users are congratulating Nirmala Sitharaman over world chess champion D Gukesh’s win

At just 18, D Gukesh has claimed the World Chess Championship title by defeating China's Ding Liren, making a whopping Rs 11.45 crore in prize money.

Personal income tax now over 30% of govt’s tax revenue, significantly higher than corporate tax

The I-T dept Thursday released time-series data on direct tax collections between 2000-01 & 2023-24, showing an increasing reliance on direct taxes versus indirect taxes.

‘Unaccounted transactions, concrete evidence’ — HC dismisses Congress challenge to IT reassessment

Congress had filed 3 writ petitions challenging Income Tax dept claim that material on record is sufficient to show ‘escaped’ income of party is upwards of Rs 520 crore.

Interim relief for Congress from tax tribunal after party claims bank accounts ‘frozen by I-T dept’

Earlier Friday, Congress leader Ajay Maken claimed I-T dept had served recovery notice of Rs 210 cr & frozen party's accounts, making it difficult to pay staff salaries & electricity bills.

Over Rs 350 cr recovered from ‘hidden chambers, safe houses’ — I-T dept on raids ‘linked to’ Congress MP

IT dept says operation covered 30+ premises across 10 districts in Odisha, Jharkhand & West Bengal, adding that one member of family that owns business is 'politically exposed'.

What happens to cash seized in income tax raids? A look as Congress MP-linked ‘Rs 350cr’ op goes on

An income tax department operation under way for a week and counting has been in the news for seizures described as being34weds among the highest ever.

Liquor firms, ‘link to Congress MP’ — I-T dept recovers Rs 200 crore in Jharkhand, Odisha raids

While IT dept is yet to issue any official statement, raids were conducted in connection with probe into alleged case of tax evasion, it is learnt.

On Camera

Hrithik Roshan & Jr NTR in Janaab-e-Aali is exactly what a dance-off should not be

Forget comparing it with classics like Hrithik’s Ek Pal Ka Jeena or the slick title track of Dhoom 2, Janaab-e-Aali does not even come close to Ghungroo.

How mining, manufacturing & power sectors weighed on India’s industrial output since January 2024

India’s industrial output growth saw a 10-month low in June, with Index of Industrial Production (IIP) growing by mere 1.5% as against 1.9% in May 2025.

India expands Southeast Asia defence footprint with new joint venture in Philippines

Memorandum of understanding between SMPP and ADFC was signed during state visit of Philippines’ President to India earlier this month.

Modi’s ready to risk it all for farmers. Farm reform can answer Trump with new Green Revolution

Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.