https://www.taxtmi.com/caselaws?id=304453 The court granted directions for a thorough investigation under the Prevention of Money Laundering Act (PMLA) and the Central Goods and Services Tax (CGST) Act by a Special Investigating Team (SIT) based on a complaint filed by the petitioner. The investigations uncovered various fraudulent activities, including income tax evasion, hawala transactions, over invoiced exports, and money laundering, implicating individuals and companies in illegal financial transactions. Ongoing assessment proceedings were reported by the Income Tax Department, with further actions dependent on the outcomes. The involvement of the Serious Fraud Investigation Office (SFIO) and Enforcement Directorate (ED) varied, with requests for SFIO to investigate offenses under the Companies Act pending government direction. Updates on actions by the ED and CBI were awaited. en-us Mon, 24 Jan 2022 00:00:00 +0530 Tue, 27 Sep 2022 07:16:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304453 The court granted directions for a thorough investigation under the Prevention of Money Laundering Act (PMLA) and the Central Goods and Services Tax (CGST) Act by a Special Investigating Team (SIT) based on a complaint filed by the petitioner. The investigations uncovered various fraudulent activities, including income tax evasion, hawala transactions, over invoiced exports, and money laundering, implicating individuals and companies in illegal financial transactions. Ongoing assessment proceedings were reported by the Income Tax Department, with further actions dependent on the outcomes. The involvement of the Serious Fraud Investigation Office (SFIO) and Enforcement Directorate (ED) varied, with requests for SFIO to investigate offenses under the Companies Act pending government direction. Updates on actions by the ED and CBI were awaited. Case-Laws Money Laundering Mon, 24 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304453