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How fire and floods help tax evaders?

It is reported that numerous high profile cases of taxevasion, have been under discussion between India and the BVI, with the former seeking
data/documents. Interestingly, the BVI authorities have informed India that it is now unableto share information on tax evasion, since the data has got destroyed in floods in August 2017
and files have been lost. The direct beneficiaries of this ‘natural calamity’ are the tax evaders amongst India’s rich and famous. Such a response from the BVI is difficult to believe and
reminds one of mysterious fire last year, that destroyed the Scindia house building at Mumbai, (which head quartered the investigation wing of the Income tax Department), and
all the sensitive/incriminating data/documents therein. Earlier it was the authorities that protected the tax evaders, and now curiously calamities do that, whether it be floods or fire. How is it that the excuse of fire and floods help the case of tax evaders? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.

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