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Assessee Resorts To Colourable Devices, Sham Transactions To Defraud Dept: ITAT

The Panaji Bench of Income Tax Appellate Tribunal (ITAT) has held that the assessee had resorted to colourable devices and sham transactions in order to defraud the Department by camouflaging its. ....

Inturi Rama Rao , Partha Sarathi Chaudhury , Panaji Bench , Income Tax Appellate Tribunal , Judicial Member , Accountant Member , Income Tax Act , Assessing Officer , For Appellant , Olourable Devices , Sham Transactions ,

Detailed text transcripts for TV channel - FOXNEWS - 20181003:20:30:00

Treatment through all county. why would he pay a higher rate? he was transferring his wealth into this vehicle that allowed it to be taxed at a lower rate. neil: what we don t know is whether such a vehicle was illegal then or now. i d say beauty is in the eyes of the beholder. depends who is sitting in the u.s. attorney s office and at a d.a. s office. i can tell you covering up in financial scams, particularly enron there were bankers that got charged with fraud and went to jail for constructing sham transactions. transactions that were created not to produce wealth but maybe hide the football neil: but you covered as did i in the early days of the trump empire where they would have run-ins with authorities and the irs all i m trying to ask here is where then do they start what is a way to save on money and avoiding taxes i m telling you from my standpoint as a financial ....

Us Attorneys Office , Run Ins , Sham Transactions , Trump Empire , Al L , Mo Ney ,