sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Want to file your income tax return online? Here’s the first step
 Good news for income tax payers! Taxmen can’t deny assessee’s legitimate claim in revised return, rules ITAT
 Can file revised return after notice issued by I-T ITAT
 How to file income tax returns online if you don't have Form 16 ITR 2018-19
 These 5 websites can help you file your ITR Income tax e-filing
 Here's why some retirees no longer have to file a tax return
 How to file different categories of ITR forms online Income tax e-filing
 Here are other documents you need to file online ITR Got your Form-16 for FY18?
 10 must have documents to file your tax return
 Know all about how to file ITR FY 2017-18
 Government extends sale of pre-GST goods with stickers of revised price till July 31

Income tax raids on Era Constructions unearth Rs 53 crore
November, 03rd 2007
The income-tax department raids conducted recently on Era Constructions, a medium-size, listed company, have unearthed an undisclosed income of Rs 53 crore.

Based on the incriminating documents seized and investigation conducted subsequently, the group admitted to undisclosed income of Rs 53 crore, said a press statement of the income-tax department without disclosing the name of the company.

Cash amounting to Rs 1.75 crore was also seized in the course of search.

When contacted, the income-tax spokesperson declined to comment on the name of the company.

The sources, however, said that raids were conducted on the premises of Era Constructions, at 24 places spread over Delhi, Ghaziabad, Gurgaon, Meerut, Saharanpur, Pantnagar and Jaipur on October 24.

Despite repeated attempts, Era officials could not be contacted.

Era, which was incorporated in 1990, is engaged in construction activities for airports, power projects, infrastructure and residential buildings.

The company got listed in 2005. In the year ended March, Era posted a net profit of Rs 79.12 crore on revenues of Rs 784.98 crore.

The sources said the company has been found engaged in procuring bogus bills from its suppliers and inflating its expenses and reporting reduced profits leading to tax evasion.

The main suppliers of bogus bills were operating from Ghaziabad and through their agents in Delhi. Some specific information in this regard was also received from the Directorate-General of Central Excise Intelligence, Delhi, said sources.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions