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Kingfisher Airlines assets attached on tax default

Last Updated: Sunday, December 15, 2013, 18:32

The Income Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 350 crore, a senior official said Sunday.

IT Dept asserts first claim to recover dues from Kingfisher

Last Updated: Saturday, December 14, 2013, 13:55

Asserting its primary claim, the Income Tax Department has maintained that dues to it will have to be settled first by Vijay Mallya-led Kingfisher Airlines, in the wake of a lender consortium of banks laying claim to "Kingfisher House" in Mumbai to recover part of their loans.

Court accepts Nokia's plea to lift factory freeze in tax dispute

Last Updated: Thursday, December 12, 2013, 14:57

The Delhi High Court on Thursday accepted Nokia's plea for a direction to Income Tax department for lifting of the stay on transfer of assets in view of its USD 7.2 billion global deal with Microsoft.

Nokia tax plea: High Court verdict Thursday

Last Updated: Wednesday, December 11, 2013, 21:15

The Delhi High Court will pronounce Thursday its verdict on Nokia's plea for a direction to Income Tax department for lifting of the stay on transfer of assets here in view of its USD 7.2 billion global deal with Microsoft.

IT Dept rejects Nokia's offer to pay Rs 2,250 cr in tax row

Last Updated: Monday, December 02, 2013, 18:51

The Income Tax (IT) Department Monday told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore to it, out of the company's total tax liability of nearly Rs 6,500 crore, is not acceptable.

Service tax amnesty scheme yields Rs 1,500 cr

Last Updated: Wednesday, November 13, 2013, 20:12

Service tax amnesty scheme has so far yielded Rs 1,500 crore in revenue for the government, with 6,283 assessees taking advantage of the VCES that was announced in the Budget 2013-14.

IT dept to monitor movement of black money during Rajasthan polls

Last Updated: Thursday, October 31, 2013, 19:45

Income Tax department has formed verifications cells in all 33 districts of Rajasthan to monitor movement of black money during the upcoming Assembly election in the state.

IT defaulter cannot be absolved of penalty by voluntarily disclosing income: SC

Last Updated: Wednesday, October 30, 2013, 21:05

An income tax defaulter cannot be absolved of paying penalty by just making a voluntary disclosure after being caught for hiding the income, the Supreme Court said Wednesday.

Coercion not a means to unearth unaccounted money: Tax official

Last Updated: Friday, October 18, 2013, 15:39

The income tax department has never looked at coercion as a way to unearth accounted money and the idea is not to create nightmares, a senior tax official said on Friday.

Coalgate: I-T seizes Rs 25 cr found at Hindalco office

Last Updated: Thursday, October 17, 2013, 18:47

I-T will now ask the company to produce documents and validate the source of the recovered cash, sources said.

CBI asks I-T dept to look into assets of Mulayam`s son, wife

Last Updated: Wednesday, October 09, 2013, 20:41

After closing the disproportionate assets probe against Mulayam Singh Yadav, CBI has asked Income Tax department to probe into alleged benami properties acquired by the Samajwadi Party leader`s wife in the name of her son Prateek.

Blanket ban on tax evasion cases info is not best policy: CIC

Last Updated: Wednesday, September 25, 2013, 19:38

Blanket ban on records related to tax evasion cases is not the "best policy" adopted by the investigation wing of the Income Tax department, the Central Information Commission has said.