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News Central Board of Direct Taxes accuses Chettinad Group of US$95m tax evasion

Central Board of Direct Taxes accuses Chettinad Group of US$95m tax evasion

Written by Global Cement staff 16 December 2020
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India: The Ministry of Finance Central Board of Direct Taxes (CBDT) says that its Income Tax department has detected US$95m-worth of tax evasion by Chettinad Cement and Anjani Portland Cement owner Chettinad Group. The Deccan Herald newspaper has reported that following raids on its offices the tax department found evidence of inflated expenditure, unaccounted receipts and complex financial arrangements including bogus liabilities in order to reduce capital gains. The investigation continues.

Published in Global Cement News
Tagged under
  • India
  • Government
  • Tax
  • Investigation
  • Chettinad
  • Chettinad Cements
  • Anjani Portland Cement
  • GCW486
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