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income tax: Income tax raids yield ₹290 crore cash recovery across three states

Income tax raids in three Indian states unveil a record ₹290 crore in cash, with more anticipated. Odisha-based distillery offices and affiliated sites were targeted, revealing cash concealed in furniture. Prime Minister Modi pledges the return of looted funds. BJP demands a CBI inquiry, implicating local leaders and the ruling BJD. Congress MP s properties in Jharkhand also yielded substantial amounts. Questions arise about the state s departments involvement in the alleged tax evasion. ....

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New CBDT rule on I-T raids opens a pandora's box

A ‘search’ action is considered an extreme measure of tax administration and its legislative mandate is given in section 132 of the Act. ....

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