The Income-tax department has carried out an "open enquiry" on Tuesday, visiting 12 premises associated with the shell companies of Nitin Gadkari.
Gifts given by one company to another need to be probed into by the tax authorities, according to the Authority for Advance Ruling.
Radico Khaitan, which makes the mass selling 8 pm whisky, is set to launch a premium vodka brand Verve, joining the 'premium' trend in the spirits industry started by United Spirits two years ago.
Software exporters, BPOs, consultants and other service exporters have been hit by a sudden halt in service tax refunds in the past few months.
"Now that all disputes are over, ABD and Officer's Choice are poised for growth," said Kishore Chhabria, chairman of ABD.A spokesman for USL declined to comment.
The investigation wing, which is the enforcement arm of the income tax department, has been lying low since the retirement of its director-general BP Gaur in January.
The cash-guzzling KFA has left Vijay Mallya with no choice but to loosen hold on the recession-proof cash cow that is liquor.
Mallya & Diageo are discussing a 3-stage transaction giving the British major an undisputed sway over the Rs 16,000-cr local liquor market.
The Maharashtra govt’s CCTV surveillance project has been delayed further with the state govt proposing to re-tender the contract due to violation of conditions.
Business expenditure, under the provisions of the Income-Tax Act, is deducted while calculating the taxable income of the taxpayer.
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