FM Sitharaman on Friday said that there is evidence of “brazen misuse” of tax laws by some sections to claim unlawful refunds, and the use of deep data and artificial intelligence has revealed a trail of funds to shell companies.
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Sitharaman said about 300 shell companies operating in a 50 sqm area, with just one table and a chair, were getting refunds to the extent of 400 crore.
“If the tax authorities are going to fear being accused of tax terrorism, the inefficiencies will perpetuate, “she said.
Read more at : THE TIMES OF INDIA
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