https://www.taxtmi.com/news?id=22100 Search and seizure action under the Income Tax Act using statutory powers at multiple premises uncovered evidence of alleged bogus losses, bogus purchases and fabricated subcontract expenses; a brought forward loss claimed pursuant to a demerger is indicated as not compliant with the Act, unaccounted cash and restrained lockers were found, and provisional detection of substantial undisclosed income from assessment years beginning 2016 17 has been reported while verification continues. en-us Fri, 08 Nov 2019 12:18:18 +0530 Fri, 08 Nov 2019 12:18:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22100 Search and seizure action under the Income Tax Act using statutory powers at multiple premises uncovered evidence of alleged bogus losses, bogus purchases and fabricated subcontract expenses; a brought forward loss claimed pursuant to a demerger is indicated as not compliant with the Act, unaccounted cash and restrained lockers were found, and provisional detection of substantial undisclosed income from assessment years beginning 2016 17 has been reported while verification continues. News - Fri, 08 Nov 2019 12:18:18 +0530 https://www.taxtmi.com/news?id=22100