https://www.taxtmi.com/news?id=23336 Searches uncovered undisclosed foreign share subscription generating undeclared taxable benefit, triggering Black Money Act proceedings; use of shell companies to siphon funds abroad and effect related-party share purchases with partial disclosure by the assessee; manipulation of preference share accounting to inflate capital; diversion of interest-bearing loans interest-free causing interest disallowance; purchase of land via shell entities under benami scrutiny; and share transfers below fair market value subject to valuation additions and capital gains adjustments, with further investigations ongoing. en-us Sat, 07 Nov 2020 15:19:34 +0530 Sat, 07 Nov 2020 15:19:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23336 Searches uncovered undisclosed foreign share subscription generating undeclared taxable benefit, triggering Black Money Act proceedings; use of shell companies to siphon funds abroad and effect related-party share purchases with partial disclosure by the assessee; manipulation of preference share accounting to inflate capital; diversion of interest-bearing loans interest-free causing interest disallowance; purchase of land via shell entities under benami scrutiny; and share transfers below fair market value subject to valuation additions and capital gains adjustments, with further investigations ongoing. News - Sat, 07 Nov 2020 15:19:34 +0530 https://www.taxtmi.com/news?id=23336