https://www.taxtmi.com/news?id=24259 Authorities conducted a search under section 132 on a diversified group and found companies held in employees' or relatives' names used to book bogus expenses, siphon profits, and route funds into related concerns; evidence includes admissions, fictitious vendor payments, circular trading, undisclosed cash sales in real estate, operated lockers, and documents indicating potential breaches of S.2(76)(vi), Clause 49 and possible applicability of the Benami Transaction Prohibition Act, with further forensic and tax quantifications in progress. en-us Mon, 26 Jul 2021 09:48:49 +0530 Mon, 26 Jul 2021 09:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=24259 Authorities conducted a search under section 132 on a diversified group and found companies held in employees' or relatives' names used to book bogus expenses, siphon profits, and route funds into related concerns; evidence includes admissions, fictitious vendor payments, circular trading, undisclosed cash sales in real estate, operated lockers, and documents indicating potential breaches of S.2(76)(vi), Clause 49 and possible applicability of the Benami Transaction Prohibition Act, with further forensic and tax quantifications in progress. News - Mon, 26 Jul 2021 09:48:49 +0530 https://www.taxtmi.com/news?id=24259