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Assesee claiming bogus cenvat credit

Service Tax - Started By: - HARSHIT BAJAJ - Dated:- 24-5-2016 Last Replied Date:- 25-5-2016 - One assesse is claming bogus credit without paying any service tax , what are chances for asessment from Income tax or Service Tax dept - Reply By KASTURI SETHI - The Reply = Sir, In Service Tax sector, if amount of fraudulently availed Cenvat Credit is more than ₹ 2 crores, prosecution can be launched against the offender under Section 91 of the Finance Act, 1994. 2. Penalty equal to the amount o .....

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from the term. Hence no assessment in income tax. However in couple of years income tax department has brought so many changes in the income tax forms. For e.g. in Tax Audit form the List of All registrations number under various Act is required to be furnished. Also I have read that there will be information shared across the department like MIS of such in such other format. Hence I mean to say that though there is no provison of cenvat credit availment in Income Tax the information shared may .....

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