As the noose tightens around shell companies evading taxes, the CBDT Chairman has asked field officers to file prosecution cases against those entities which claimed bogus long-term capital gains.

In a letter to Principal Chief Commissioner of Income Tax, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has called for fast track prosecution proceedings in cases where the Settlement Commission has rejected entry operators who have claimed advantages of long-term capital gains.

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