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There is no doubt that the Modi government has showed greater urgency in unearthing unaccounted money stashed away by some Indians in tax havens and other countries, enjoying the advantages of the latter's banking secrecy laws.
A bench comprising Justices R F Nariman and S Ravindra Bhat rejected the request of the Solicitor General, appearing for the Enforcement Directorate, to issue a notice to the other side on the appeal.
The black money law provides for tax and a penalty of 120 per cent of assets' value.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
'Isn't it obvious? Do you have a doubt? There is so much data that shows that there is quid pro quo.' 'There are many instances of donations being given after the raids, donations being given before the award of a contract and many other permutations and combinations.'
Anyone who has specific and definite information on black money can share it with Supreme Court-appointed Special Investigation Team going into the issue that can crack down on those stashing money abroad and at home.
Swiss banks seek fresh undertakings from Indians.
The Centre is in talks with Mauritius with regard to the long-pending revision of the bilateral tax treaty.
Nearly Rs 3,400 crore (Rs 34 billion) in cash and other items were seized in the elections in 2022-2023, an increase of 835 per cent over 2017-2018.
Pawar had told the media on the day of the raids that the tax searches were also carried out at the premises of his three sisters, one living in Kolhapur district and two in Pune district of Maharashtra.
Govt should take steps to monetise real estate investment schemes.
'Even with the restrictions of depositing more than Rs 2.5 lakh in a bank, people will find new methods to convert this cash hoard into legal tender.'
Bharatiya Janata Party's prime ministerial candidate Narendra Modi's election campaign would cost a whopping Rs 5,000 crore, most of which is black money, the Congress on Wednesday alleged and sought a probe into the origin of these funds.
As part of efforts to tackle the menace of black money, the government has commissioned studies to estimate the amount of unaccounted income and wealth.
Amid the threat of yoga guru Baba Ramdev to go on a hunger strike on the issue of black money from June 4, the government on Wednesday said the series of steps taken by it to unearth unaccounted-for wealth have started yielding results.
The regulations will only apply to the share purchases that have been done after October 1, 2004
'The entire explanation of the episode is difficult to digest.'
The government's committee on unaccounted ('black') money met on Friday to discuss changes in existing legislation to address the issue.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
'Corruption is the tree.' 'Black money is the fruit from the tree.' 'This scheme will expose the unaccounted fruits of the tree.' 'But since the tree will continue to stand, the story will continue,' say Pramod Kumar Srivastava, Sanghamithra and Kravya.
Jaitley said future transactions would be substantially digital as India moves towards a less-cash society
The proposed ban on cash transactions above Rs 3 lakh may hit luxury goods, jewellery sales and real estate.
Crores received by the Congress between 2005 and 2009 are unaccounted for, the BJP follows suit. Vicky Nanjappa reports
Finance ministry maintains that all KYC requirements will be followed.
The Enforcement Directorate (ED) on Wednesday conducted raids in three locations in and around Kolkata and again recovered large stacks of cash from a flat linked to Arpita Mukherjee, considered a close associate of arrested West Bengal Industry Minister Partha Chatterjee.
In a major embarrassment for ex-chief minister Jitan Ram Manjhi ahead of Bihar polls, his son Praveen Kumar was on Sunday detained by the police after he was allegedly found carrying Rs 4.65 lakh in cash in a car.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people
The first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on Monday.
This is the 2nd lowest amount of funds held by Indians.
The government on Monday disclosed before the Supreme Court eight more names including that of Pradip Burman, one of Dabur India promoters, a bullion trader and Goa miners against whom it has started prosecution for allegedly stashing blackmoney in foreign banks.
The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.
A bench of Justices Sanjiv Khanna and Dipankar Datta, which continued hearing on the Kejriwal's plea challenging his arrest for the consecutive day, posed several queries to Additional Solicitor General S V Raju, appearing for the ED, and sought his reply on Friday.
Prime Minister Manmohan Singh on Monday said the United Progressive Alliance government swung into action to unearth unaccounted Indian money lying abroad after some instances of such funds in Germany and Switzerland were brought to its notice.
Madal Virupakshappa, who was in hiding for the past six days, appeared in public in his hometown Channeshpur after hearing the news that the high court had granted interim bail.
AAP leader Sanjay Singh said Kumar, who serves as Delhi Chief Minister Arvind Kejriwal's principal secretary, has a clean service record that spans over 27 years, in which allegations of corruption were never made against him.
The Centre on Wednesday placed a list of names of 627 Indian account holders in HSBC bank, Geneva in the black money case before the Supreme Court which asked a Special Investigation Team to go through the list and take appropriate action in accordance with law.
'Many theories are doing the rounds on how to declare unaccounted income.'
'One of the more interesting ideas I have heard,' says Harsh Roongta, 'is that the tax payer can state that he found the currency notes in a bag on the street.'
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
