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News Misc. - Direct Tax

  • Jul 30, 2018
  • File all NCLT petitions on shell firms by August: CBDT to IT department

    The CBDT has directed the Income Tax Department to ensure filing all its petitions before the NCLT by next month to recover due taxes worth crores of rupees from a number of de-registered shell or dummy companies. The policy-making body of the tax department has issued the directive as part of the action plan unveiled recently. "A large number of companies have been struck off from the records of the ROC (registrar of companies) during last year. In several cases of such companies, petitions for restoration of registration are required to be filed before the NCLT so as to be able to pursue recovery of demands raised in their cases.