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Shell Cos: I-T Dept to File Pleas in NCLT to Recover Tax Dues

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 Shell Cos: I-T Dept to File Pleas in NCLT to Recover Tax Dues
The income-tax department is an “aggrieved creditor” to many deregistered shell companies and will petition the National Company Law Tribunal (NCLT) to recover tax dues of crores of rupees. The Central Board of Direct Taxes (CBDT) has directed the I-T department to form a special team of officers to complete the task of filing these petitions in various NCLT benches across the country by this month-end, and has written to the ministry of corporate affairs seeking its help.
The CBDT, the policymaking body for the department, is concerned over crores of rupees of its “legitimate” taxes being stuck, after these shell firms were deregistered by the government in the recent past as part of its drive against black money and fraud business operations.
PTI has accessed a letter written recently by the CBDT to all its regional chiefs stating that the tax department is an “aggrieved creditor” vis-a-vis these struckoff shell companies and the taxman should hence undertake all efforts to file these petitions to get its dues from them.
“A good amount of information is already in the possession of the department in this context and this will be finalised once the entire data is compiled by the deadline of May 31,” a senior official said
The Economic Times, New Delhi, 22nd May 2018

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