Sun, Feb 18, 2018
It is suspected that the shell firms were being used by the accused to launder money and create “benami” assets in the form of land, gold and precious stones, which is now being probed by the tax department.
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Fri, Mar 03, 2017
The Income Tax Department on Friday warned that those who undertake Benami transactions would invite Rigorous Imprisonment (RI) of up to seven years and such violators would also stand to be charged under the Income Tax Act (I-T Act).
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