SIT detects 13000+ potential shell companies, directs CBDT to get cracking

Nov 03,2015

Pursuant to recommendations of Special Investigation Team (‘SIT') on Black Money (as contained in the Third SIT Report), SIT calls for greater vigilance by law enforcement and intelligence agencies while examining cases of – (i) persons holding directorship in more than 20 Companies, and (ii) more than 20 companies operating from the same address; Notes that with respect to shell companies and beneficial ownership a twofold strategy namely, proactive d...

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