Top corporate houses and banks including Reliance Industries, Bank of Baroda, Coca Cola and Tata Motors were under-assessed by tax authorities, resulting in less tax collection of more than Rs 1,054 crore.
RIL was under-assessed resulting in lower tax collection of Rs 376.17 crore for the assessment year 2002-03, the latest report of Comptroller and Auditor General of India for March 2006 has said.
In case of Tata Motors, the omission resulted in a short levy of tax by Rs 261.13 crore, the report said, adding the Department has accepted the mistake and took remedial action.
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