Income Tax Dept

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  More Than Rs. 800 Crore Siphoned Off By Auto Manufacturer; I-T Dept. Alludes To Hero MotoCorp In Press Release

  While the I-T department did not directly name Hero MotoCorp, news reports claim sources within the agency that the release alludes to India's largest two-wheeler maker.

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  HP Fake Degree Scam: Police Ask Tax Dept To Ascertain Property Of Manav Bharti University Chairman

  The Himachal Pradesh Police has approached the Income Tax Department here to ascertain property of the chairman of a Solan-based private university in connection with an alleged fake degree scam, officials said on Monday.

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  Income Tax Department Publicly Names Defaulters Owing Rs 490 crore

  The department issued an advertisement as part of its name and shame defaulters policy.

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  Income Tax Officials Slap Sahara's Aamby Valley With Rs 24,646 Crore Fine

  In a special investigation of Aamby Valley Ltd., found that an income of over Rs 48,000 crore not reflected in the record books of the firm.

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  Fake Lottery Scam: Rs 20 Crore Seized by Income Tax Officials in Kolkata

  Over Rs 20 crore stashed in cupboards and many gunny bags in Kolkata and adjoining areas by the Income Tax department, as part of a special operation against those suspected of being involved in an alleged lottery scam.

• HSBC secret accounts: I-T dept to begin prosecution action

  The Income Tax department has decided to begin prosecution action against those having "substantial" amounts in their bank accounts in HSBC's Geneva branch.

• Vodafone decision will be taken by IT dept post GAAR report:FM

  Talking to reporters, he said the decision whether to send another notice to British telecom major will be taken by the concerned Assessing Officer in the back drop of amendment to the Income Tax Act, Supreme Court judgment in the Vodafone case and opinion of the Attorney General on the issue.

• I-T dept to refund excess tax despite 4-year limit period

  Giving relief to taxpayers, the Income Tax Department has asked its officials to take action to refund excess tax even if such applications are hit by limitation period of four years.

• Income-tax dept launches probe into Reebok India irregularities

  The I-T officials are also looking at the corporate structuring and financing of the company.

• Tax Dept detects concealed income of Rs 19,938 cr in last 2 yrs

  The government said the income tax department has detected concealed income of Rs 19,938 crore in the last two fiscals.

• Income Tax dept press release on raid on Chiranjeevi's daughter

  Cartons stuffed with Rs 35 crore in cash were found at the Chennai residence of actor-politician Chiranjeevi's daughter, Sushmita.

• Profit Top 10: Vodafone wins $ 2 bn tax case , Kingfisher on skeletal schedule

  If you missed our coverage, here are the day’s top 10 stories.

• I-T dept claims Rs 246 crore dues from Sesa Goa

  "The Income Tax Department had raised a demand for Rs 246 crore disallowing certain claims of the company in December 2011 during regular assessment proceedings," Sesa Goa said in a communique to the Bombay Stock Exchange.

• Blackmoney: I-T dept to initiate prosecution action in HSBC Geneva cases

  The Income Tax department is mulling to initiate prosecution action for concealment of income against those black money hoarders whose names have allegedly figured in the classified list of account holders in HSBC bank Geneva.

• PAN to be most potent tool against tax evasion: I-T Dept

  The PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money.