Black money: SIT asks agencies to share data on ongoing case

June 29, 2014

New Delhi, Jun 29: The Special Investigation Team (SIT) on black money has sought details of all major cases of tax evasion and criminal financial fraud being probed by various investigative agencies which are mandated to keep a check on such instances.

Black moneySources said that the SIT headed by retired Supreme Court Justice M B Shah has asked the 11 departments on its panel to furnish fine details of these cases and the status of their probes, including any problems being faced by investigators in taking the cases forward for prosecution or penalty.

The member departments/agencies of SIT are the Department of Revenue (under the Ministry of Finance), RBI, Intelligence Bureau, Enforcement Directorate, CBI, Income Tax department, Narcotics Control Bureau, Directorate of Revenue Intelligence, Financial Intelligence Unit, Research and Analysis Wing and the Foreign Tax and Tax Research wing under the Central Board of Direct Taxes (CBDT).

The sources said the SIT has asked for the data in order to understand the trends and magnitude of the menace of black money and generation of illegal funds in the country, which is done through a variety of ways like evasion of taxes and duties, flouting of foreign exchange laws, creation of disproportionate assets, creation of 'benami' properties within the country and outside and laundering of wealth obtained through illegal and corrupt means.

The departments, they said, are in the process of submitting these details in the stipulated format to SIT and these will be taken up during the next meeting of the panel, expected to take place some time next month.

RBI has recently directed all banks and financial institutions to provide the information and documents sought by the high-profile panel.

The SIT, formed upon the directions of Supreme Court, had its first meeting earlier this month here at the North Block office of the Finance Ministry.

The high-level team has also decided to look into the contentious issue of secrecy clauses in India's tax treaties with Switzerland and other countries.

Retired apex court judge Arijit Pasayat is the Vice Chairman of the SIT while top officials of the 11 high-profile agencies and departments are its members.

After the first meeting of the SIT, the government had said the detailed modalities of proceeding further with the Supreme Court mandate were discussed and the road map decided.

The SIT's mandate, as notified, requires it to go into "all issues relating to matters concerning and arising from unaccounted monies of Hasan Ali Khan and Kashinath Tapariah".

Pune-based Khan, a stud farm owner, was arrested by Enforcement Directorate in connection with money laundering and tax evasion cases. Tapariah is his aide.

The other tasks of SIT include all investigations already started and pending or awaiting to be initiated with respect to any other known instances of the stashing away of unaccounted cash in foreign bank accounts by Indians or other entities operating in India.

The panel has also been empowered "to further investigate even where charge-sheets have been previously filed and SIT may register further cases and conduct appropriate investigations and initiate proceedings for the purpose of bringing back unaccounted monies unlawfully kept in bank accounts abroad."

The SIT will also keep the apex court informed about all major developments by filing periodic status reports in this regard, the government notification had said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 8,2020

Lucknow, Jun 8: The coronavirus which has now been assigned a gender, is being worshipped in Uttar Pradesh also after Bihar as superstition run deep. Women in some villages in Tumkuhiraj, Kasia, Hata, Captanganj and Khadda tehsil in Kushinagar district have started worshipping 'Corona Mai' and are pleading with her to spare lives.

These women have dug a small pit in the field, filled it with water and each one offers nine cloves and nine 'laddoos' to 'Corona Mai' to appease her.

Women from adjoining villages are now flocking to the 'temple' to pray to 'Corona Mai'.

Some local people have appealed to the district administration to stop such activities which spread superstition and misinformation.

Radhey Lal, a school teacher in Kasia, said, "The authorities must stop such activities which promote superstition. Everyone knows that there is no cure for corona and this kind of activities must be stopped."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
June 16,2020

As the Indian workforce navigates a shrinking job market in lockdown times, two in five professionals believe that the number of jobs and scheduled interviews will decrease in the next two weeks, a new LinkedIn survey said on Tuesday.

The news comes as bittersweet for Indian professionals as more than one in three stated they will now spend more time working on their resumes and preparing for interviews.

Professionals from healthcare, manufacturing and corporate service industries anticipate a decrease in personal spending and personal investments in the next six months, according to the findings of the fortnightly LinkedIn Workforce Confidence Index based on responses from 2,903 professionals in the country.

This findings showed that while India's overall confidence remains steady, the country's confidence in jobs is beginning to trend downward.

However, employees at large enterprises (firms with over 10,000 workers) are more confident about the future of their employers when compared to their peers from mid-market and SMB companies.

The findings showed that 41 % of enterprise professionals think their companies will do better in the next six months, while 63 % think their companies will be better off one year from now.

However, "the enterprise professionals are least confident about the future of their jobs, finances and careers, when compared to their SMB and mid-market peers".

The findings showed that 52 % of healthcare, 48% of corporate services, and 41 % of manufacturing professionals anticipate a decrease in investments in the next 6 months.

Over the past three months, many organizations have shifted to a remote working model to circumvent the pandemic and ensure business continuity.

Three in five marketing professionals feel confident about being effective when working remotely, joined by more than half of project management and engineering professionals, who are also confident about the effectiveness of remote working.

In contrast to this optimism, only 39 % of HR, 36% of finance, and 31 % of education professionals think they would be effective when working remotely, said the survey.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 26,2020

New Delhi, Mar 26: Despite repeated assurances by the Centre and state government of no shortage of food and essential services in Delhi, many daily wage earners have started fleeing the national capital on foot to return to their native villages in nearby Uttar Pradesh and other states because of the hardships being faced by them.
Most daily wage earners who are fleeing have complained that they are doing so because they will die of hunger due to lack of resources at their disposal.
"I am going to Azamgarh, my native place which is more than 800 kilometers from here. We have started walking towards our village. On the roads, if we get some vehicles then it will be all right otherwise we will continue on foot. I used to work in the construction sector but all work has stopped, we therefore have no other means to buy our rations. Atleast, food is guaranteed in our homes," Ghanshyam, a daily wage earner, told ANI here.
Rani, another daily wage earner, who was fleeing Delhi along with her family said, "Who would want to leave on foot, but what other options do we have. Our children will die of hunger, even if they are saved from the disease. That is why we are leaving."
While the government has been assuring that it will provide food and other essentials to the low-income groups, the people complained that they are yet to receive any help.
The departing of people has started despite repeated warnings by governments to prevent the influx of persons living in other states to curtail the spread of coronavirus.
Prince, who used to reside in Mongolpuri area of Delhi, said, "If we continue to stay the landlord will pester us for rent. The prices of all commodities are rising with each passing day, this way we will have nothing left to survive. We did not get any help from the government. I am, therefore, returning to Kasganj, which is close to 300 kilometres from Delhi. We will at least get food served twice a day in the village, nobody is offering us even water here."
Earlier on Tuesday, Delhi Chief Minister Arvind Kejriwal had announced Rs 5,000 for each construction worker under Construction Workers Welfare Board Fund.
Addressing a video conference here, he said, "The Delhi government will give Rs 5,000 to each construction worker as their livelihood has been affected due the outbreak of coronavirus."
He also said that the number of night shelters in the city has been increased and more food is being distributed to homeless people.
He also said that due to curfew, several people were not able to get food, and urged the public to send such people to the nearest shelters of the Delhi government, where food was being arranged.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.