LatestIncome Tax 22 July 2026
Tax Scam Uncovered
The Income Tax Department has uncovered a Rs 65.5 crore fake tax refund scam involving bogus deduction claims under Section 80GGC, and the ITAT has remanded a Rs 36.60 crore transfer pricing adjustment in the Veolia Intra-Group Services case, the Income Tax Department is taking action against such scams to prevent revenue loss
The Income Tax Department has recently uncovered a significant tax scam.
Key details of the scam include:
- A Rs 65.5 crore fake tax refund scam
- Involves bogus deduction claims under Section 80GGC
The ITAT has also remanded a *Rs 36.60 crore transfer pricing adjustment* in the Veolia Intra-Group Services case.
The ITAT decision is expected to have implications for similar cases in the future, as the Income Tax Department is taking action against such scams to prevent revenue loss
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