SAKSHI SCAM: Taxman says will try Jagan on false returns!

For LEED Consultancy, Green Building Design, Green Homes, Green Factory Buildings, Green SEZs, Green Townships,

www.greentekindika.com

August 4, 2011 / By S.A. Ishaqui, DC, HYDERBAD.

The Income-Tax department on Wednesday informed the Andhra Pradesh High Court that it would prosecute the YSR Congress chief and Kadapa MP, Mr Y.S. Jagan Mohan Reddy, the promoter of Jagati Publication, under the provisions of the Income-Tax Act.

The Income-Tax department on Wednesday informed the Andhra Pradesh High Court that it would prosecute the YSR Congress chief and Kadapa MP, Mr Y.S. Jagan Mohan Reddy, the promoter of Jagati Publication, under the provisions of the Income-Tax Act.

Mr J.V. Prasad, counsel for the I-T department, submitted before a Division Bench comprising Chief Justice Nisar Ahmad Kakru and Justice Vilas V. Afzulpurkar, that the department had filed an affidavit in this regard.

Full Story at,

http://www.deccanchronicle.com/channels/cities/hyderabad/taxman-says-will-try-jagan-false-returns-171

CRICKET SCANDAL: Parliamentary report says BCCI, IPL evaded tax!

For LEED Consultancy, Green Building Design, Green Homes, Green Factory Buildings, Green SEZs, Green Townships,

www.greentekindika.com

Sumon K Chakrabarti, CNN-IBN / Updated Aug 02, 2011 at 06:39pm IST.

New Delhi: A parliamentary panel has rapped on the knuckles of the BCCI and Income Tax Department, alleging that four teams of the cash-rich Indian Premier League (IPL) routed investment from abroad, sources told CNN-IBN on Tuesday.

The teams involved in this latest IPL mess are Mumbai Indians, Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab, who, the panel alleged, have got foreign investments without approval.

The panel - headed by former Finance Minister Yashwant Sinha - has thus demanded that all tax exemptions given to the BCCI be withdrawn and those given specifically for the World Cup be reviewed.

Full Story at,

http://ibnlive.in.com/news/bcci-ipl-evaded-tax-parliamentary-report/172467-3.html

Firm director arrested for tax evasion by excise intel sleuths!

www.greentekindika.com

FOR LIGHTER READING, Download your free copy of “My First Beer” Now with the Smashwords Summer/Winter promotion, ending July 31, 2011

@ http://www.smashwords.com/books/view/52213

July 24, 2011 PTI, Meerut / DC.

Taking strict measures to unearth blackmoney, the Central Excise Intelligence department has arrested the director of a firm manufacturing ayurvedic products for allegedly hiding profits to the tune of over Rs10 crore.

Arrests in tax evasion cases are very rare and enforcement agencies take the step only when they have a water-tight case.

According to sources in the Directorate General of Central Excise Intelligence (DGCEI) in Delhi, a team of officials from the national capital conducted searches at nine locations of the firm - Panchwati Prayogshala - in Meerut and Roorkee districts and arrested its Director Pankaj Goel earlier this week.

The firm, according to sources, has now deposited an amount of Rs 50 lakh with the central excise department after initial probe found huge tax evasion on its part.

"The stress of the searches and raids is to crackdown on tax evasion by such firms and subsequent creation of blackmoney," a senior officer involved in the operation said.

The firm, which manufactures ayurvedic products such as digestive tablets, mints and confectionery under the 'Panchwati' brand, had a turnover of more than Rs 46 crore during February 2009-December 2010 from its Meerut unit alone.

Full Story at,

http://www.deccanchronicle.com/channels/nation/north/firm-director-arrested-tax-evasion-excise-intel-sleuths-643