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March 2010

CBDT seeks report on Mumbai I-T refund scam:

By Raman Jokhakar
Tarunkumar G. Singhal
Chartered Accountants
Reading Time 2 mins
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New Page 1

69 CBDT seeks report on Mumbai
I-T refund scam:


The
Central Board of Direct Taxes (CBDT) has sought a detailed report from the field
formation in Mumbai over the reported “income- tax refund scam” in that
jurisdiction. No insider of the Income-Tax Department has been identified in any
wrong doing. “It looks as if some external people were involved, but we have to
wait for the complete information,” official sources said. Indications are that
the findings of the report, once obtained, will be placed before the Finance
Minister. CBDT also maintained that the amount involved was not as high as Rs 41
crore as reported in certain sections of the media. Meanwhile, a CBI spokesman
said that the matter has come to the notice of the investigation agency.
However, no case has been registered as yet. “Only if a case is registered can
an investigation begin. More details can be shared only if a case is
registered,” the spokesman added.

(Source:
The Hindu Business Line Newspaper dated 25.01.2010)

(Compiler’s
Note: The issue
arises: Can we trust the safety and security of confidential financial data
which assessees upload on the Department’s website, if the Department cannot
protect its own interest?)

 

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