Small Business
IT searches at ABG Shipyard offices, official residences
Income Tax authorities are carrying out search operations at various establishments of the shipbuilding and repairing firm, ABG Shipyard, for alleged tax evasion, an Income Tax Department source has said. - I-T raid on ABG Shipyard offices, official residences - Bharati hikes open offer for Great Offshore to Rs 560/share - Stock price of Great Offshore unsustainable: Analysts - Current stock price of Great Offshore unsustainable: Analysts - ABG Shipyard gears up to match Bharati"s open offer - Sebi may ok Bharati"s offer for Great Offshore in 10 days The searches are being carried out in about 26 establishments — both office complexes as well as residences of company officials — across four cities, the source said. The raids are being carried out in Mumbai and Surat, Dahej and Bhuj (in Gujarat), the source said, adding these are being conducted by the Director, Income Tax (Investigation) Unit 1. An official of the company, who asked not to be identified, confirmed the IT raids saying these started at 7 am today.Website Redesign Singapore commented:
IT deparment want to leave no stone unturned this time and they want to catch those companies who try to evade their taxes.They must be heavily punished and they must be fined for this act as well.
01.02.2012