Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: form 3cd :: cpt :: VAT Audit :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Indirect Tax »
 Central indirect tax officers seek redressal of flaws in GST’s final design
 How it affects long-term capital gains tax calculations
 Should you opt for 'consultant' status to lower tax outgo?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
 E-commerce majors seek removal of tax at source on sellers
 New direct tax regime would benefit state
 Indirect tax collections increase by 16.9 per cent in January
 Tax officers to file self-appraisal report on e-assessment
 How are you saving tax this season? 10 funds saved tax & delivered 30% returns too
 Increase in taxpayer base will help bring down tax rate, says Arun Jaitley
 There is inconsistency in filing income tax, says CBDT Chairman

Income tax officer booked for demanding Rs 65 lakh in bribe;
September, 17th 2012

An Income Tax officer from East Godavari district in Andhra Pradesh has been booked by the CBI for allegedly demanding a bribe of Rs 65 lakh from an assessee for returning an official favour, a senior officer said today.

The Visakhapatnam unit of CBI yesterday filed a case against Kakinada-based Income Tax Officer (Ward-I) P Venkateswara Rao for demanding Rs 65 lakh as illegal gratification from an agriculturist to bring down his tax liability from Rs 1 crore to Rs 50 lakh and arrested his uncle S Lakshmana Rao for "mediating the deal".

Lakshmana Rao will be produced in the special CBI court at Visakhapatnam tomorrow.

Following the arrest, the agency sleuths today conducted simultaneous "searches" at the official and residential premises of Venkateswara Rao at Kakinada, Visakhapatnam and S Kota and also at the residential premises of Lakshmana Rao in East Godavari district, a CBI release said.

The IT sleuths on June 22 raided Kakinada house of the complainant and seized certain registers, books of accounts and papers. Thereafter, the complainant was summoned to the IT office several times and informed by Venkateswara Rao that he has to pay Income Tax of around Rs 1 crore, the CBI said.

When the complainant requested to reduce the liability, Rao allegedly demanded a bribe of Rs 80 lakh through a mediator and later through his uncle S Lakshman Rao for reducing the tax amount from around Rs 1 crore to Rs 50 lakh, according to the release.

On September 13, Lakshmana Rao took the complainant to his nephew's house where he agreed to reduce the bribe amount from Rs 80 lakh to Rs 65 lakh and told the complainant that his uncle would deal with him.

However, the complainant approached the CBI which led a trap and caught Lakshmana Rao red-handed while accepting the bribe amount of Rs 15 lakh from him.

Meanwhile, the officer said Venkateswara Rao could not be arrested due to his "ill health" and hospitalisation.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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