The Enforcement Directorate (ED) has arrested two chartered accountants (CA) and a cryptocurrency trader in connection with a Rs 640 crore money laundering scheme linked to a cyber fraud investigation. Between November 28 and 30,
In a significant operation supporting the Nasha Mukt Bharat Abhiyaan, the Directorate of Revenue Intelligence ( DRI ) has seized 72 litres of Amphetamine, concealed in 240 cans, each containing 300 ml. The shipment, which
This annual round-up analytically summarizes the key Direct and Indirect Tax Judgments of the Supreme Court and all High Courts of India reported at Taxscan.in during 2024. Breach of Law in All Cases Does Not
The Special Additional Chief Judicial Magistrate (ACJM) Court for CBI cases in Ahmedabad (Rural) on 29.11.2024 sentenced two individuals named Suresh G. Prajapati, a former Income Tax Practitioner and his wife Mrs. Sobhnaben Suresh Prajapati
Around the world, cases of financial fraud have not only hurt investor trust but also damaged the reputations of well-known accounting firms. These scandals, ranging from fake records to deliberate cover-ups, reveal serious flaws in
The Central Bureau of Investigation (CBI) has arrested two Income Tax Officials in relation to bribe allegations. The CBI team from Shillong conducted an operation at the Income Tax Office on Circuit House Road in
A 90-year-old man from Surat was recently defrauded of a staggering ₹1.15 crore over a 15-day period. The victim, Mohan, was targeted by a sophisticated cybercrime operation that involved impersonating officials from the CBI, ED,
In a recent case, the New Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) held that application under section 7 of the IBC cannot be admitted in absence of any debt
The State GST ( Goods and Services Tax ) proceedings are valid even after the search conducted by the Central GST department if the quantum of amount and period of demand is different from the
A Special court for Prevention of Money Laundering Act ( PMLA ) granted bail to a businessman involved in a ₹915 crore money laundering case, citing the amended provisions under the Bail Not So Stringent
The Chhattisgarh High Court has granted bail to accused of passing unauthorised Input Tax Credit ( ITC ) worth Rs. 63.37 crores based on fake bills. It was found that the evidences procure in the
The Supreme Court expunged the tentative Opinion of the Gujarat High Court in its interim order on the good faith clause in Section 157 of the Goods and Services Tax ( GST ) Act may
This weekly roundup analytically summarizes the key stories related to the Supreme Court and the High Court reported at Taxscan.in from 19th November 2024 to 23rd November 2024. No Money Laundering Cognizance against Govt Officials
The Gujarat State Goods and Services Tax ( GST ) Department uncovered tax evasion worth Rs. 3.53 crore after conducting raids on November 16, 2024. The raids targeted seven businesses selling directly to customers (
The Punjab and Haryana High Court granted anticipatory bail to accused uploading fake bills on GST Portal and wrongfully claiming Input Tax Credit ( ITC ) worth Rs. 25 Crores. The FIR came to be
