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Nirav Modi’s collection, including a Ravi Varma painting worth Rs 4 crore, is set to be auctioned to recover income tax dues of Rs 95 crore.
The sharp increase in tax filers in the lower income slabs can be mainly attributed to government’s decision to start penalising late filers.
Sources in income-tax department said the raids were conducted on a tip-off that films like The Villain and KGF may have been used to launder money.
Delhi HC declined to grant relief to Vodafone saying substantial outstanding demand was pending against the company.
Supreme Court, however, restrained the I-T department from implementing its order in the proceedings against Rahul and Sonia Gandhi till the pendency of the matter before the court.
Editors Guild of India says the tax administration should not exercise its powers in a way that could be seen as intimidation of the government’s critics. New Delhi: The Editors Guild of India has taken cognisance of the Income Tax Department’s raids at the offices of news portal The Quint and the residence of its founder and promoter Raghav Bahl, saying that “motivated income-tax searches and surveys will seriously undermine media freedom”. “While the tax administration is within its rights to make inquiries in compliance with the relevant laws, it should not exercise those powers in a way that could be seen as an intimidation of the government’s critics,” the Guild stated. “The government should desist from such attempts,” it added. Bahl is a member of the Guild’s executive committee, and also one of the founders of Network18. His statement on the matter said “we are a fully tax compliant entity, and will...
Bombay HC was upset about lack of preparation by income tax department for a case and said arguing legal matters 'should not be taken casually'.
The Supreme Court raps the department for making a "misleading statement" and notes that the pending matter was decided by the apex court earlier. New Delhi: The Supreme Court has slammed the Income Tax department for making "misleading statement" about pendency of an appeal while making it clear that the apex court is not a "picnic place" and cannot be treated like this. A bench headed by Justice Madan B Lokur slapped a cost of Rs 10 lakh on the department and said it was "shocked" that the Centre, through the Commissioner of Income Tax, has taken the matter "so casually". Also read: UPA slammed Urban Naxals in 2013 in SC affidavit, condemns their arrest in 2018 The bench, also comprising Justices S Abdul Nazeer and Deepak Gupta, also noted in its order that the plea was filed by the IT department after a delay of 596 days and "inadequate and unconvincing explanation" was...
Manmohan Singh, a 55-year-old officer working in the Income Tax Apellate Tribunal, Ranchi, had hanged himself on 5 June.
Of the 860 cases that have been finalised, about 80 could be adjudicated. The remaining 780 cases bearing attachments worth crores involve some very high-profile individuals.
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