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![Shell Firms Used to Divert Funds, Section 45 PMLA Bars Relief: Calcutta HC Denies Bail in ₹11.6 Crore Loan Scam [Read Order]](https://images.taxscan.in/h-upload/2026/02/13/2124928-shell-firms-divert-funds-section-45-pmla-bars-relief-calcutta-hc.webp "Shell Firms Used to Divert Funds, Section 45 PMLA Bars Relief: Calcutta HC Denies Bail in ₹11.6 Crore Loan Scam [Read Order]")
Shell Firms Used to Divert Funds, Section 45 PMLA Bars Relief: Calcutta HC Denies Bail in ₹11.6 Crore Loan Scam [Read Order]
In a recent ruling Calutta High Court has refused bail in connection with the alleged ₹11.6 crore loan scam, stressing that funds were funnelled...
![Share Capital from Alleged Shell Companies Accepted as Genuine: ITAT quashes Income Tax Revision u/s 263 [Read Order]](https://images.taxscan.in/h-upload/2025/09/13/2086235-genuineness-share-capital-share-capital-received-itat-itat-upholds-cita-decision-cita-deletes-addition-taxscan.webp "Share Capital from Alleged Shell Companies Accepted as Genuine: ITAT quashes Income Tax Revision u/s 263 [Read Order]")
![Delhi HC Declines to Exercise Writ Jurisdiction in Fraudulent GST ITC Case, Follows Mukesh Kumar Garg Precedent [Read Order]](https://images.taxscan.in/h-upload/2025/06/05/2041296-gst-gst-itc-fraud-case-taxscan.webp "Delhi HC Declines to Exercise Writ Jurisdiction in Fraudulent GST ITC Case, Follows Mukesh Kumar Garg Precedent [Read Order]")
BREAKING: Audit of Shell Companies: NFRA Imposes 1 Crore Penalty and 2 Years Ban on CA Firm for Professional Misconduct [Read Order]
The National Financial Reporting Authority (NFRA) has banned the Chartered Accountants Firm Sundaresha and Associates for a period of two years from audit. The NFRA has also imposed a hefty penalty...
95% of Appeals in relation to Share Application and Share Premium are filed by Shell Companies: ITAT Kolkata [Read Order]
The Kolkata Bench of the Income Tax Appellate Tribunal (ITAT) has recently observed that the appeals filed in relation to share application and share premium are done by Shell Companies, devoid of...
![95% of Appeals in relation to Share Application and Share Premium are filed by Shell Companies: ITAT Kolkata [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/01/Appeals-Share-Application-Share-Premium-Shell-Companies-ITAT-Kolkata-taxscan.jpg "95% of Appeals in relation to Share Application and Share Premium are filed by Shell Companies: ITAT Kolkata [Read Order]")
