The Delhi High Court has held that where a manufacturer is booked by the tax authorities for clandestinely clearing its goods to escape tax, the charge must be based on “tangible evidence”. “In the absence of any tangible evidence which would indicate that there was clandestine manufacture and clearance of the goods from the premises of the respondent, we hold …
The Income Tax Department on Friday said that its searches on an Ahmedabad-based group, engaged primarily in the media and real estate sectors, had led to the detection of unaccounted transactions involving over ₹1,000 crore so far. “The group is among one of the prominent business houses of Gujarat engaged primarily in the media and real estate sectors. The media …
