The Supreme Court on Tuesday deferred hearing on Vijay Mallya-owned Kingfisher Airlines's plea challenging Karnataka High Court's order to deposit around Rs 185 crores with the Income Tax Department as tax deducted at source (TDS) from its employees' wages. A bench headed by Justice DK Jain deferred the hearing for four weeks after senior advocate Harish Salve, appearing for the airlines, submitted that "serious negotiations are going on between the...
09:21 PM, Jan 22, 2013
The Income Tax department officials on Tuesday conducted a survey operation on the premises of Finnish cellphone major Nokia in Chennai on charges of alleged tax evasion. Sources in the department said the survey operation was conducted at the company's premises in the Tamil Nadu capital (under section 133 of the I-T Act) and few other locations in the country would be brought under this action. ...
09:12 PM, Jan 08, 2013
The Supreme Court on Tuesday sought the response of superstar Amitabh Bachchan on a petition by Income Tax Department which has claimed that the actor owes to it Rs 1.66 crore as taxes on his income he earned through quiz show 'Kaun Banega Crorepati' during 2001-02. ...
07:22 PM, Jan 08, 2013
New Delhi: In fresh trouble for the Kingfisher Airlines, the Income Tax department has stepped in to recover tax dues from banks, eyeing the proceeds from the sale of non-core assets of the carrier. According to I-T sources, a notice was sent by the department to the lead lender, State Bank of India, over the sale proceeds from the Kingfisher assets. This comes after the banks agreed to a proposal...
04:52 PM, Jul 13, 2012
New Delhi: Yoga guru Ramdev's trust have challenged the action of the Income Tax department to slap a tax demand of Rs 58 crore on their income through sales of ayurvedic medicines. "Since inception we have been doing charity in terms of providing medical relief and other such activities to the needy. We have challenged the I-T department's notice at the Commissioner of I-T (Appeals) office and we know that...
08:32 PM, May 17, 2012
New Delhi: Kighfisher Airlines Chairman Vijay Mallya is expected to meet the DGCA on Tuesday to try and salvage what remains of his ailing airline. Mallya will be presenting his plans on how to revive the company. There is a high chance that the airline's licence could be cancelled. The income tax department is also threatening to take the airline to court for non-payment of dues. Sources have also said...
06:39 AM, Mar 20, 2012
New Delhi: In an apparent fallout of the Supreme Court's order in the Vodafone case, the Income Tax department has started a review of its probe in the 2G spectrum scam which relied heavily on the premise of capital gains generated in overseas deals by telecom firms. The Department, which has till now detected Rs 1,500 crore of tax irregularities in its probe in this case, has found that telecom...
10:18 AM, Feb 26, 2012
New Delhi: In order to guard against possible leakage of names figuring in the secret bank accounts lists it has received from foreign shores, the CBDT has ordered the IT department to obtain a signed undertaking from any government entity or department who demands the data for their own probe. The Central Board of Direct Taxes (CBDT) fears that if these names are leaked and they are publicised, global financial...
12:30 PM, Jan 08, 2012
New Delhi: Tax defaulters beware! With tax recovery to the tune of more than Rs 1 lakh crore held up for lack of information about the whereabouts of defaulters, the Income Tax(I-T) department is working on plans to publish their names in newspapers. The problem has been further compounded with several of the tax defaulters having created 'benami' assets to escape the dragnet. The I-T department is embarking on this...
06:40 PM, May 30, 2011
New Delhi: The Income Tax department will file its first status report on investigation into tax evasion in the 2G spectrum allocation scam on Tuesday in the Supreme Court. The department, according to sources, has reportedly traced instances of tax evasion in allocation of the new Unified Access Services (UAS) licenses and subsequent allocation of the 2G spectrum. "The department will file its first status report on investigations into the...
06:18 PM, May 01, 2011
New Delhi: The Supreme court on Wednesday directed the Income Tax department to provide a transcript of tapped conversations of corporate lobbyist Nira Radia with corporate honchos, politicians and bureaucrats to CBI and ED which are probing 2G scam case. A bench of justices GS Singhvi and AK Ganguly passed the order after CBI complained that the IT has not provided the transcript of 5000-hour tapped conversations. As the bench...
10:17 PM, Apr 27, 2011
Washington: US President Barack Obama's Indian-American IT guy is in full agreement with his boss that the White House is "like 30 years" behind the times when it comes to technology. "Federal IT is horrible - that's why we've made it a priority to aggressively crack down on wasteful IT spending and turn around poorly performing projects," says Vivek Kundra, the federal chief information officer. Obama had rightly "pointed out...
11:58 AM, Apr 20, 2011
Mumbai: Hasan Ali Khan, the Pune-based stud farm owner arrested on massive money laundering charges, is the second most secure inmate of the Arthur Road jail after Ajmal Kasab, lodged like the Pakistani gunman on death row in the high-security 'Anda cell'. Khan has been lodged in the egg-shaped cell as he claimed to be facing threat to his life from Kolkata businessman Kashinath Tapuria, a co-accused arrested in the...
06:42 PM, Apr 07, 2011
New Delhi: The probe into corruption in the Commonwealth Games is becoming dramatic day by day, with the Enforcement Directorate and IT department likely to issue summons to some senior Commonwealth Games Organising Committee officials. The CAG on Monday decided to complete a comprehensive audit of the projects within 90 days. Meanwhile, the Central Vigilance Commission is also looking into at least 22 more Games-related construction and procurement works that...
01:37 PM, Oct 19, 2010
