Income tax department eyes over Rs 100 bn from 'struck off' firms

The income-tax (I-T) department is estimating tax recovery of over Rs 100 billion from companies that have been struck off from records of the Registrar of Companies (RoC) last year.

The tax department is in the process of filing a petition before the National Company Law Tribunal (NCLT) for restoration of registration in as many as 50,000 such companies. 

The RoCs had struck off 300,000 companies after it was found they had not filed their statutory returns. 

Directors of these companies have been prohibited from holding directorships in any other company.

The move follows Central Board of Direct Taxes’ (CBDT) directive to identify, process