Modus operandi for tax evasion - Sham transactions - In three ...

Income Tax

January 7, 2013

Modus operandi for tax evasion - Sham transactions - In three days, the assessee himself, who was having no worth, alleged that he borrowed Rs.25.97 lakhs from 148 persons as if every person was waiting for this person to come and demand the money and every person was ready to give him money. This type of modus-operandi can be adopted by many persons. - HC

View Source

← Previous Next →

Modus operandi for tax evasion - Sham transactions - In three ...

Income Tax

January 7, 2013

You may also like:

Grant of Bail - GST evasion - Fraudulent availment of ITC -Looking at point (vi) above and considering the magnitude and the scale of the alleged fraud involving public...

Bogus LTCG - capital gains arising on sale of shares - We see potency in the plea of the assessee that such capital gains arising on sale of shares cannot be regarded as...

Addition u/s 68 - assessee’s alleged failure to explain as to why the subject shares which had a face value of Rs. 10/- were issued at a premium of Rs. 90/- per share -...

Levy of penalty u/s 114 of the Customs Act - appellant is a freight forwarder - export of non-basmati rice - prohibited goods or not - admittedly in the course of...

Tax planning versus Tax Avoidance - distribution of dividend, prior to sale of its shares by the assessee, even though tax advantageous cannot be termed as a colourable...

Seeking grant of Anticipatory Bail - Misuse of PAN number of the Chartered Accountant (CA) for fraudulent transaction and evasion of GST - The investigation from the GST...

Levy of penalty on Director of the company - The appellant being a Director of the Company involved in the entire Modus Operandi of fraudulent availment of credit and...

Addition u/s 68 - bogus liability allegedly shown by the assessee - receipt of the shares on loan - It appears to us that the nature of transactions as well as the modus...

Long term capital loss on sale of shares - Just because of assessee sold shares to daughter and sister concern, it cannot be considered that the transactions are sham...

Seeking grant of Bail - tax evasion - sham companies - offence u/s 132 - It is not disputed by the department that if the tax evasion of the applicant is less than Rs.5...

Quick Updates: