https://www.taxtmi.com/news?id=24194 A search and seizure on a Hyderabad group recovered documents showing schemes of related-party share transfers, non-arm's-length subscriptions and bonus issues that created an artificial loss used to set off capital gains from a foreign sale; evidence also indicated an incorrect bad debt claim linked to related parties and unaccounted cash transactions. Entities and associates have admitted to unaccounted income and agreed to pay taxes, while further investigations and assessment proceedings continue. en-us Fri, 09 Jul 2021 16:45:07 +0530 Fri, 09 Jul 2021 16:45:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24194 A search and seizure on a Hyderabad group recovered documents showing schemes of related-party share transfers, non-arm's-length subscriptions and bonus issues that created an artificial loss used to set off capital gains from a foreign sale; evidence also indicated an incorrect bad debt claim linked to related parties and unaccounted cash transactions. Entities and associates have admitted to unaccounted income and agreed to pay taxes, while further investigations and assessment proceedings continue. News - Fri, 09 Jul 2021 16:45:07 +0530 https://www.taxtmi.com/news?id=24194