Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: empanelment :: VAT RATES :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: TDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: VAT Audit
 
 
News Headlines »
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax
 Income tax returns (ITR) filing: Why small service providers need to get this benefit
 How NRIs can avoid tax troubles

Tax Dept probing officers' role in MDH case flip-flop
April, 07th 2008

The Income Tax department is trying to ascertain it's officers role in spice powder company MDH Masala's offer to pay Rs 54 crore to get tax sleuths off its back and subsequent claim that it was forced to do so.

It is believed that an internal probe is on to get to the bottom of whether tax officials extracted a confessional statement from MDH after searches in November 2006 for alleged tax evasion failed to yield any incriminating evidence.

MDH in a statement then had said "for mental peace, the company is surrendering an amount of Rs 54 crore to the department," sources said, adding that the company had retracted it four days later.

The probe will find why tax officials concerned accepted a vague letter from the company that did not even say under which head the amount was to be surrendered, sources added.

The Income Tax department had conducted raids on at least 50 offices of the MDH group of companies including in Delhi, Gurgaon, Jaipur and residential premises of its owners and seized huge amounts of cash and documents.

The inquiry will also go into whether officials provided a loophole to the company, which has tried to take refuge under the plea that it was forced to give a confession statement.

MDH officials declined to comment on the matter. "The officials are now finding it difficult to explain why they had accepted a letter that mentioned that the amount was being surrendered for mental peace and not toward tax evasion or undisclosed income," said a senior official.

Sources said the department issued letters to the officials about two months back when they failed to establish the claimed tax evasion by the company.

MDH has an annual turnover of around Rs 200 crore and is a leading manufacturer of blended spices.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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