'It is common knowledge that cash is anonymous.' 'When demonetisation was implemented, one of the intended objectives was to put identity on the cash holdings in the economy.' 'With the return of Rs 15.28 lakh crore in the formal banking system, the almost entire cash holding of the economy now has an address.' 'It is no more anonymous,' says Arun Jaitley.
"The Commission is satisfied that the current election process for Rajya Sabha election from Jharkhand has been seriously vitiated and cannot be permitted to proceed," the 3-member EC headed by Chief Election Commissioner S Y Quraishi said in a 12-page order.
Lead players in the poll-bound state are understood to be re-working their strategies on how to manage the campaign with less money with Rs 500 and Rs 1,000 notes becoming illegal tender in one stroke.
Lanco Infratech Managing Director Venkatesh Prasad was caught with Rs 34 lakh (Rs 3.4 million) in cash at the Hyderabad airport by income tax officials on Saturday.
Tamil Nadu, Kerala, West Bengal, Assam and the Union Territory of neighbouring Puducherry are likely to go to polls in April or May.
The onus to explain that the gold jewellery was inherited or bought from known sources of income would be on the owner.
The agency also carried out searches at 15 locations spread across Delhi; West Bengal's Kolkata, Siliguri and Murshidabad; Uttar Pradesh's Ghaziabad, Punjab's Amritsar and Chhattisgarh's Raipur, they said.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Simply put, tax evasion occurs when any trust, individual, or firm, seeks to avoid paying taxes by illegal and unfair means, by, for example, deliberately hiding income from the tax authorities to reduce the tax liability.
In continued post-demonetisation crackdown on black money, stashes of new notes continue to be seized in several states, including Rs 1.05 crore from a tea seller-turned-financier in Gujarat and nearly Rs 90 lakh in Andhra Pradesh.
Senior Indian Administrative Services officer Ashok Singhvi, who is the Principal Secretary (Mines) in Rajasthan, was arrested in the wee hours of Thursday by the state Anti Corruption Bureau in the eighth arrest in a bribery case involving clearance for reopening of six closed mines of a miner.
The Reserve Bank of India has admitted that security features introduced in the higher denomination notes in 2005 as an anti-counterfeiting measure have been breached!
The Congress unit described Ramesh's suicide an outcome of "targeted harassment" of their rank and cadre to keep them away from the party.
A single bench of Justice N W Sambre also granted bail to his co-accused Arbaaz Merchant and Munmun Dhamecha.
Senior counsel Amit Desai, appearing for Aryan Khan, termed the NCB's contention as 'inherently absurd' and argued that when there was no recovery of drugs from him, then he should not be penalised at the stage of granting bail.
Why did such a 'socially conscientious' people adapt to cash-for-votes and the like, as fish to water? N Sathiya Moorthy offers an explanation.
The taxman carried out a total of 677 search, survey and enquiry operations
According to the FIR, some Delhi-based individuals were receiving funds from FIF operatives based abroad and were using it for terror activities.
Counting of votes in the high-stakes close-to-call Bihar assembly elections, billed as a hot battle between Prime Minister Narendra Modi and Chief Minister Nitish Kumar, will take place on Sunday.
Promising a carrot and stick policy, Finance Minister P Chidambaram on Wednesday said taxmen will use annual information report, tax information network and the new bank cash transaction tax to track tax evaders.\n\n
'It may take the AIADMK much more convincing than already, not only to try and bring around even the one-time Muslim voters of the party. 'More importantly, the party leadership may find it even more difficult to convince traditional party voters and cadres, who had admired Jaya's nonchalance to the party and leader ruling the Centre,' says N Sathiya Moorthy.
Aditya Birla Management Corporation has received cash from certain group companies through hawala operators in Delhi, say investigators
Captain Bhoopendra Singh had also provided wrong information to his superiors and the police about the recovery made during the staged encounter, the charge sheet filed by the Special Investigation Team (SIT) of the Jammu and Kashmir Police before the chief judicial magistrate in Shopian said.
market, was today seized from an illegal drug manufacturing unit in Jalgaon district in north Maharashtra and six persons were arrested, Directorate of Revenue Intelligence officials said.
The BJP had not filed till May the expenses statement for the Karnataka Assembly elections held last year in July.
This money was found wrapped in newspapers and was concealed in their check-in baggage.
Raids are being carried out across the country by the Income Tax department in the wake of the burgeoning fake currency racket post demonetisation, as currencies both new and old have been seized in large amounts from Bengaluru, Panjim and Faridabad besides the national capital.
Pakistan dropped weapons and some cash in Indian currency using a drone in Jammu and Kashmir's Rajouri district, Director General of Police Dilbag Singh on Saturday said, announcing the arrest of three Lashkar-e-Tayiba terrorists who had picked up the consignment near the Line of Control.
Centre says the very object of demonetisation and elimination of black money will be defeated if a fresh window is given.
A combination of reduced cash intensity, a focused strategy of tax administration and GST is the way to go, say Sakshi Gupta, Tanvi Garg and Abheek Barua.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The action by the NIA came barely a few days after the Union Cabinet declared IRF as a banned organisation under UAPA.
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
The seizure of liquor has been a matter of concern for the EC since it apprehends that the liquor might be used to influence the voters.
To check black money menace, the Cabinet on Tuesday approved a new bill that would give more powers to the tax department in tracking illicit wealth stashed abroad and provide for strict penal actions for such offence.
The raids, codenamed "Operation Kuberan", was ordered by Home Minister Ramesh Chennithala in the wake of public outrage at the suicide of five members of a family, allegedly after running into deep debt on account of high-interest loans obtained from a local money lending racket, known as "blade companies" in local parlance.
Telangana and Rajasthan are the last states to go to the polls in the current round of assembly elections, which also covered Madhya Pradesh, Chhattisgarh and Mizoram.
The searches, they said, are related to the department's probe in the biggest haul of cash and gold in Chennai post demonetisation.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
Officials said that taxmen visited seven locations in Bengaluru and three in Hyderabad of those event management companies which were given contracts to give a blockbuster look for the wedding of Bramhani last week.
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