Audit Reports

(b) Charge: PCIT-2, Bengaluru Assessee: M/s Kasthuri Medias Pvt. Ltd. Assessment Year: 2014-15 As per Section 50C of the Act, if \b property is sol d below the v\blue fixed by the st\bmp v\blu\btion \buthority, then the v\blue \bsses sed by such \buthority sh\bll be the deemed v\blue of...............

sell the goods belonging to the defa\blter which are \bnder the control of the proper officer and to take action to distrain and sell any movable or immovable property belonging to s\bch person. Similarly, Section 73 of the Finance Act, 1994, empowers the Central Excise Officer to serve notice to...............

77 Compliance Audit Paragraphs Tax and Excise Department Failure of Assessing Officer to detect short realis ation of tax 4.2 83 Non-furnishing of returns by registered dealers 4.3 85 Failure of Assessing Officer to take action to register un- registered dealers 4.4 85 Loss of revenue due to...............

Some of these lands , which were used for grazing and other common purposes became common property resources over time. These include Gomal a lands (those used for grazing the cattle); Gunduthopu (those used for planting trees for common use); Poramboku ( or the cultivable wa ste); uncultivable...............

2. The 22 PSUs that had finalised their accounts in the last three years had an average negat ive Return on Investment of 19 per cent agains t average borrowing cost of 6.52 per cent resulting in total loss to the public exchequer of ` 11,920.32 crore as per their latest finalised...............

We verified records of 923 \bransac\bions per\baining \bo \bhird par\bies of sale/ purchase of immovable proper\bies each having consid era\bion of more \bhan rupees one crore from \bhe scru\biny cases wi\bhin \bhe selec\bed assessmen\b charges/In\belligence & Criminal Inves\biga\bion wing of...............

The SE recommended (March 2014) the bid for Government approval. The Government returned (April 2014) the proposal directing retransmission after re-tender without citing any reason. On re-tender (July 2014), again a single tender was received which was from KSCC, but the rate quoted this...............

The Return on Equity (ROE) in re spect of 3 working SPSUs 6 was 5.45 per cent. The ROE in respect of remaining eight working SPSUs 7 was negative {(-) 26.39 per cent} as per their latest finalised accounts. 1 Non-working SPSUs are those which have ceased to c arry on their operations. 2...............

Tenders awarded to ineligible contractors 3.1 .3.4 100 3.1.5 Irregular acceptance of bids on grounds of improper/incorrect submission of income tax returns 3.1.3.5 101 3.2.1 Execution of non-rural road works from MNP fu nd 3.2.4.1 102 Preface iii PREFACE This Report for the year ended 31 March...............

Further, the Commercial Tax and Mineral Resou rces de partment s monitored arrears of revenue through quarterly /monthly returns submitted by field units. The remaining three departments do not have any mechanism to monitor arrears of revenue. Recommendation: The departments should create a...............