“Since the company (Flipkart) derives substantial value of its shares from the assets held in India, it would be liable for taxation here. The company has been informed about the Sections of the Income-tax Act that would be applicable,” a senior tax official said.
The income-tax department during its tax evasion survey found out that in three prime health care facilities in the city the source of funding of the residential and commercial buildings which they had set up was dubious
BHOPAL: The Madhya Pradesh government and the ruling BJP threw their weight behind senior ministers Laxmikant Sharma and Rajendra Shukla whose names allegedly figure in bribe diaries seized by the Income-Tax department.
Accusing the Central government of misusing investigating agencies to settle scores,the BJP alleged the Congress had lost ground in Madhya Pradesh and was trying to make up for it by leaking selective documents to damage reputations. Maintaining that Sharma and Shukla will not resign,state BJP chief Narendra Tomar and Industry Minister Kailash Vijayvargiya said that diary entries were no proof of someones involvement or guilt. The I-T department itself did not consider the documents serious enough to raise tax demands or serve any notice on the ministers, they said. ENS