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
General »
 Interest income from an NRO account is fully taxable in India
 Income tax payers filing appeals before ITAT will have to provide information relating to the amount locked up in dispute
 GST, infrastructure status drive PE investments in warehousing
 Taxman should move towards limited scrutiny
  Government likely to withdraw tax notice on free banking services
 GST Council may bring natural gas, aviation turbine fuel under its purview at next meeting
 IT department cautions TDS deductors against quarterly filing default
 The notification said start-ups approved by an inter-ministerial panel are exempted from the tax which is levied on firms issuing shares to investors above their fair value, treating it as income from other sources
 Why you need to sort out your tax-residency status
 Government likely to withdraw tax notice on free banking services
 Senior Citizens Savings Scheme Rules, 2004

SC dissatisfied over tardy tax evasion probe by IT dept: 2G scam
May, 05th 2011

The Supreme Court today expressed displeasure over the tardy pace of probe by the Income Tax department into the tax evasion cases linked to 2G spectrum case, saying it wanted "results".

A bench of justices G S Singhvi and A K Ganguly directed the department to file a detailed report on action taken by it during the last three years when it got a complaint in this regard and began tapping corporate lobbyist Niira Radia's telephone.

"The IT department must be quicker. This is not a normal case of tax evasion. It (probe) should have been done fast. These are not ordinary cases to be handled in ordinary way," the bench said.

The department, however, defended its ongoing probe saying that the investigation has entered the "fifth layer" and the approach towards the case has not been tardy.

The court, however, was not satisfied and said, "We are not concerned about layers but results."

The bench allowed the IT department to approach the special judge, trying the 2G case, to interrogate company officials who are in judicial custody for their alleged role in the scam.

The bench also agreed to hear a plea by petitioner, the Centre for Public Interest Litigation, for appointment of two independent persons to assist the court in monitoring the probe by various government agencies in the scam. The CPIL had made the plea alleging that "big players are being let off".

The court also assured the petitioners, CPIL and others, that all the persons involved in the scam will be brought to justice irrespective of their wealth, position and power.

"You (petitioner) rest assured that no person, irrespective of their chair and wealth, could get immunity in any way," the bench said, adding "investigation in the case has made some progress which would not not have been possible in normal circumstances."

CBI, meanwhile, contended that no person would be let off as investigation is still going on against Reliance and Tatas for their involvement in the scam.

The investigating agency also submitted that it will file fresh status report on the ongoing investigation in 2G scam after the summer vacation.

The court after hearing all sides posted the matter for further hearing on May 13, when it would delve into the plea for appointment of independent person to assist the court in monitoring the probe.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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