https://www.taxtmi.com/circulars?id=9053 Assessing officers must verify agents and recurring subscriber names to detect benami dealings and check sources of contribution; directors and family suspected of siphoning funds should have their investments and wealth examined and company expenses vetted for inflation and disallowance. Genuineness of cash credits and bad debts must be scrutinised. Assessments should be completed on a priority basis. Windfall receipts by withdrawing bidders may be taxed as casual and non recurring receipts, while subscriber losses on discontinuance may be treated as capital losses not allowable for carry forward or set off. en-us Mon, 13 Dec 1976 00:00:00 +0530 Wed, 01 Jun 2011 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9053 Assessing officers must verify agents and recurring subscriber names to detect benami dealings and check sources of contribution; directors and family suspected of siphoning funds should have their investments and wealth examined and company expenses vetted for inflation and disallowance. Genuineness of cash credits and bad debts must be scrutinised. Assessments should be completed on a priority basis. Windfall receipts by withdrawing bidders may be taxed as casual and non recurring receipts, while subscriber losses on discontinuance may be treated as capital losses not allowable for carry forward or set off. Circulars Income Tax Mon, 13 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9053