https://www.livelaw.in/columns/epf-pension-case-employees-provident-fund-epfo-supreme-court-rc-gupta-case-verdict-180025
Saturday, 21 August 2021
1. Minimum Pension / Family Pension as per DHC Judgement did 27-4-2017. 2. How 30% Family Pension Tribe got eroded from 1987 to 2017 in LIC.
Punjab & Haryana High Court Takes Cognizance Of Criminal Cases Pending Against MPs/MLAs
Rashmi Shukla IPS Alleges Maharashtra Chief Secretary Sanctioned Phone Tapping; Offers To Take Lie Detector Test
Ground work for your ITR
Vikas Dubey Encounter- "No Suspicion/Doubt About Police Version": Judicial Commission Gives Clean Chit To UP Police
Guidelines for timely and qualitative disposal of Pensioners Grievances
Guidelines for timely and qualitative disposal of Pensioners Grievances
Posted: 20 Aug 2021 04:46 AM PDT
LIC 65 th Anniversary Week 1st to 7th September, 2021
Friday, 20 August 2021
Supplement to Pensioners' Handbook
CBDT notifies new Income Tax Rule 12AA and Rule 51B
Continuation of ongoing scheme – “Pensioners Portal”
Posted: 19 Aug 2021 08:12 AM PDT
Thursday, 19 August 2021
Calcutta High Court Rejects State's Argument That Police Can't Be Held Responsible For Post-Poll Violence Due To ECI's Model Code Of Conduct
Safe Deposit Locker/Safe Custody Article Facility provided by banks – Revised Instructions
Calcutta High Court Directs CBI Investigation Into Cases Of Murder & Rape During West Bengal Post-Poll Violence
There's No Statutory Cap For ED Director's Term, Argues Solicitor General; Supreme Court Reserves Judgment
EPF Pension Case: Supreme Court To Consider If Reference To Larger Bench Is Needed In View Of 'RC Gupta' Decision
Wednesday, 18 August 2021
Pegasus : Supreme Court Refuses To Stay West Bengal Govt Notification Constituting Judicial Commission; Issues Notice
Supreme Court Dismisses Maharashtra Govt Appeal Against CBI Probe Into Transfers & Postings By Ex-HM Anil Deshmukh
Advance payment of salaries to employees of Southern Railway on account of Onam Festival
Advance payment of salaries to employees of Southern Railway on account of Onam Festival
Posted: 17 Aug 2021 05:21 AM PDT
Income Tax Department conducts searches in NCR
Government of India
Ministry of Finance
17 AUG 2021 8:05PM by PIB Delhi
The Income Tax Department conducted searches on 16.08.2021 on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India. Searches were conducted at 5 premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India.
The search revealed that the purchases of the assessee company were entirely from its holding company. Examination of import bills vis-à-vis sale bills show that there is huge gross profit (approximately 30%) on trading of these items, however, the company has been booking huge losses over the years. It is thus evident that losses are being booked by the company through bogus expenses in respect of services provided by it. Few such recipients have been identified in whose case, substantial expenses have been booked over the years. These entities have been found to be non-existent at their addresses. Moreover, the said entities also do not file their Income Tax Returns(ITRs). More such dubious entities are being examined. It is expected that bogus expenses would run into hundreds of crores over the years.
During the search, incriminating evidence has been detected in Whatsapp chats of the CEO, CFO and other key persons indicating illegal payments to telecom companies. Whatsapp chats also reveal payment of commission to a person based in Australia for purchase of shares of a telecom company in India. These transactions are being examined further. Evidence in the form of electronic data and physical papers, found during the course of the search shows that unaccounted money, running into several crores every year, has been brought back into the books in the form of bogus scrap sales, etc. Incriminating documents found from the electronic data of key persons, including the foreign CFO, show that the employees of the company were engaged in illegal currency exchange from Rupee to RMB. They were also found to be engaged in large scale illegal trade of medicines from India to China.
Examination of books of the assessee company shows large discrepancies. It has been found that the company has failed to deduct TDS on provisions made by them for expenses. During F.Y.s 2014-15 and 2015-16 the company failed to deduct TDS on such provisions amounting to more than Rs. 120 crore. The company has claimed expenses of more than Rs. 100 crore on account of provisions created by it for doubtful debts in F.Y. 2017-18. Similarly, expenses of hundreds of crores have been claimed over the years on account of provision for doubtful debts and provision for doubtful loans and advances. Admissibility of such expenses is being examined.
Further, the Assessee company has also declared only 2 bank accounts in its Income Tax Returns (ITRs) despite having around 12 operative bank accounts. Accountability of transactions in other bank accounts is being examined.
Issue of tax liability of hundreds of crores has been identified so far. Unaccounted cash of more than Rs. 62 lakh has been found at the premises. 3 lockers have also been found during the course of the search, which have been placed under restraint. Search operation is still continuing.
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RM/KMN
HAPPY BIRTHDAY TO SHRI G N SRIDHARAN
90 years,hit a century , we have sowed, we all have to reap
Tuesday, 17 August 2021
Pegasus Snooping Issue : Supreme Court Issues Notice Before Admission To Centre On Pleas For Probe
D S Nakara Judgment case
DA Order from July 2021 for 6th CPC Pay Scale Employees and Central Autonomous Bodies
DA Order from July 2021 for 6th CPC Pay Scale Employees and Central Autonomous Bodies
Posted: 16 Aug 2021 05:25 AM PDT
DA Order from July 2021 for 5th CPC Employees and Central Autonomous Bodies
DA Order from July 2021 for 5th CPC Employees and Central Autonomous Bodies
Posted: 16 Aug 2021 05:39 AM PDT
Compassionate engagement cases of dependent of deceased / missing GDS
Compassionate engagement cases of dependent of deceased / missing GDS
Posted: 16 Aug 2021 07:59 AM PDT
Monday, 16 August 2021
Vehicle Scrappage Policy – 2021
CGA : Kerala, Maharashtra employees to get salary, pension in advance
CGA : Kerala, Maharashtra employees to get salary, pension in advance
Posted: 15 Aug 2021 06:20 AM PDT
Sunday, 15 August 2021
Happy Independence Day, Ananta Saran Parida
Happy 75th INDEPENDENCE DAY, 15th August,2021A S Parida, MA MBA LLB FFII CIS CIC Dip-in-TDBhubaneswar