Dharmadev Infrastructure Ltd. is a well known real estate company having presence in various cities of India.
The realtor was having a good land bank, marquee projects and able management team. However, the company was facing a tax litigation matter running into several millions of dollars. The amount involved was huge. Internal accounting and tax team was responsible for preparing all the case papers related to the matter. However, the team did not have adequate expertise to handle such a big matter.
After associating with the company, Altobooks team has taken following steps:
Mapped actual cashflows and movements of cash within and outside the company for past 7 years.
Mapped all inter corporate transactions along with requisite explanations.
Bifurcated all allowable and non-allowable expenditures, deductions and prepared tax reconciliation statements for past 7 years.
Prepared briefs for providing explanation to the Govt. authorities.
Assisted lawyer panel as a technical expert at the time of representing the case.
As of 2022, although the matter is still subjudice and underway for the company, the company has grown its operations over the years. Altobooks has grown its relationship with the company over time and is advising the company on following matters.