Govt. Constitutes SIT on Panama Papers Leaks
8 years, 10 months ago

Govt. Constitutes SIT on Panama Papers Leaks

Live Law  

The Government has constituted a Multi-Agency Group on 4th April 2016, inter alia, for facilitating co-ordinated and speedy investigation in the cases of Indian persons allegedly having undisclosed foreign assets and whose names are reportedly included in Panama Papers leaks. The Group consist of the officers of Investigation Division of the Central Board of Direct Taxes, Foreign Tax & Tax Research Division of CBDT, Enforcement Directorate, Financial Intelligence Unit and Reserve Bank of India, and its Convenor is Member, CBDT. The investigation team has been ordered to conduct a time bound inquiry into the allegations alleged in the Panama Papers leaks. Besides, the International Consortium of Investigative Journalists, a Washington based organization which has reportedly made revelations pertaining to the Panama Papers leaks, has put a caveat on its website by mentioning that it should not be assumed that everyone who appears in the Panama Papers is involved in tax avoidance or evasion and there are legitimate reasons to create a company in an offshore jurisdiction and many people declare them to their tax authorities when that is required.

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History of this topic

ACB starts inquiry into middlemen-bureaucrats/politician nexus
2 months, 1 week ago

ACB starts inquiry into middlemen-bureaucrats/politician nexus

Hindustan Times  

MUMBAI: The Anti-Corruption Bureau has initiated an inquiry into the names of approximately 100 individuals and entities identified by the Income Tax Department in connection with an alleged nexus involving middlemen, bureaucrats, and politicians in Maharashtra. ACB starts inquiry into middlemen-bureaucrats/politician nexus In response to a Right to Information query filed by activist-lawyer Pravin Wategaonkar, the ACB confirmed that it …

CBI concludes probe into Arunachal civil service exam paper leak
6 months, 3 weeks ago

CBI concludes probe into Arunachal civil service exam paper leak

The Hindu  

The Central Bureau of Investigation has concluded its probe in the case involving the alleged leak of a question paper of the exam conducted by the Arunachal Pradesh Public Service Commission for the post of Assistant Engineer, and filed the final supplementary chargesheet against one accused person. The agency said the accused, Pasang Kotin Ezing, had issued a cheque for …

UGC-NET paper leak case: CBI team, out for probe, attacked in Bihar's Nawada; 4 arrested
9 months ago

UGC-NET paper leak case: CBI team, out for probe, attacked in Bihar's Nawada; 4 arrested

India TV News  

A CBI team of officers, which went to Bihar's Nawada district for investigation of the UGC-NET paper leak case, was allegedly attacked by people, the police said on Sunday. It registered the case in the UGC-NET paper leak matter on June 20 and took up the investigation. UGC-NET paper leak on darknet Union Education Minister Dharmendra Pradhan on June 20 …

Aishwarya Rai Bachchan summoned by ED in Panama Papers case
3 years, 3 months ago

Aishwarya Rai Bachchan summoned by ED in Panama Papers case

India Today  

Aishwarya Rai Bachchan has been summoned to appear before the Enforcement Directorate in the Panama Papers case. Aishwarya Rai Bachchan's name featured in the list of 500 Indians who were named in the massive leak of 11.5 million tax documents exposing their secret offshore dealings. Earlier in July, Pakistan Prime Minister Imran Khan had alleged that he was offered Rs …

CBDT creates 8 dedicated units to fasten probe in Panama Papers scam
4 years, 3 months ago

CBDT creates 8 dedicated units to fasten probe in Panama Papers scam

India Today  

The CBDT has created dedicated, specialised units in income tax which will focus on cases related to black money being parked overseas. The tax department has created specialised units which will be focussing on foreign assets of Indian nationals bought and parked overseas illegally. Sources told India Today that other than 8 investigation units of Income Tax investigation in Mumbai, …

I-T Dept Raids Chinese Individuals, Local Contacts in Rs 1,000-crore Money Laundering Case
4 years, 7 months ago

I-T Dept Raids Chinese Individuals, Local Contacts in Rs 1,000-crore Money Laundering Case

News 18  

The Income Tax Department conducted raids in New Delhi against some Chinese individuals and their local associates for allegedly indulging in a money laundering racket involving Rs 1,000 crore using shell or dubious firms, the Central Board of Direct Taxes said on Tuesday. The CBDT, which frames policy for the tax department, said the searches were launched based "on credible …

Delhi HC questions Centre on powers of investigative body set up to probe Panama papers, Bahamas leaks
5 years, 5 months ago

Delhi HC questions Centre on powers of investigative body set up to probe Panama papers, Bahamas leaks

Firstpost  

The Delhi High Court on Tuesday queried the Centre on the powers of the Multi-Agency Group set up to probe individuals, including politicians, named in the ‘Bahamas leaks’ and ‘Panama papers leak’. New Delhi: The Delhi High Court on Tuesday queried the Centre on the constitution and powers of the Multi-Agency Group set up to probe the companies and individuals, …

CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering
5 years, 11 months ago

CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering

India TV News  

The CBDT has issued directions to Income Tax offices across the country to probe financial transactions of about three lakh firms, de-registered by the government for their dubious financial credentials, for tax evasion and money laundering, especially during demonetisation. "To check possible misuse of such companies for money laundering activities, the board desires that the field authorities may verify deposits …

CBI vs CBI vs Govt: How infighting, mudslinging and inter-agency snooping is corroding India's elite institutions
6 years, 4 months ago

CBI vs CBI vs Govt: How infighting, mudslinging and inter-agency snooping is corroding India's elite institutions

Firstpost  

“Turning and turning in the widening gyre, the falcon cannot hear the falconer; things fall apart; the centre cannot hold; mere anarchy is loosed upon the world, the blood-dimmed tide is loosed, and everywhere, the ceremony of innocence is drowned, the best lack all conviction, while the worst, are full of passionate intensity.” These lines by William Butler Yeats best …

Panama papers: Multi agency group looking into fresh revelations, says finance ministry
6 years, 9 months ago

Panama papers: Multi agency group looking into fresh revelations, says finance ministry

Firstpost  

The finance ministry on Thursday said the fresh revelations under the ‘Panama Paper Leaks’ are being looked into by the Multi Agency Group, which includes the tax department and the Reserve Bank New Delhi: The finance ministry on Thursday said the fresh revelations under the ‘Panama Paper Leaks’ are being looked into by the Multi Agency Group, which includes the …

CBDT forms committee to study cases of rich Indians escaping abroad
6 years, 11 months ago

CBDT forms committee to study cases of rich Indians escaping abroad

India TV News  

Concerned over recent cases of high-income individuals such as Nirav Modi and Vijay Mallya escaping from the country and settling abroad, the CBDT has formed a committee to study these cases and prepare an action plan for due revenue to be extracted from them and ensure that the tax authorities are not left in the lurch. According to the Central …

Panama papers case: ED to issue FEMA notices to 46 Indian entities for possible violations
7 years, 3 months ago

Panama papers case: ED to issue FEMA notices to 46 Indian entities for possible violations

Firstpost  

The Enforcement Directorate is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list New Delhi: The Enforcement Directorate is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list on charges of possible forex law violations, official sources said on Thursday. The agency, they said, …

Panama Papers: Nawaz Sharif to be questioned over family's wealth
7 years, 9 months ago

Panama Papers: Nawaz Sharif to be questioned over family's wealth

India Today  

Pakistan's Prime Minister Nawaz Sharif will be questioned on Thursday by investigators probing how his family obtained its vast wealth, the first time a sitting Pakistani premier has appeared before any investigative agency. Sharif's office on Monday confirmed the prime minister had received a summons by the Joint Investigation Team, set up by the Supreme Court to investigate corruption claims …

Panama Papers: SC asks govt whether SIT needed to probe Indians revealed in leak
7 years, 11 months ago

Panama Papers: SC asks govt whether SIT needed to probe Indians revealed in leak

Firstpost  

The Supreme Court on Tuesday asked the government whether a Special Investigation Team should be constituted to probe the offshore accounts of Indians revealed in the Panama paper leaks. New Delhi: The Supreme Court on Tuesday asked the government whether a Special Investigation Team should be constituted to probe the offshore accounts of Indians revealed in the Panama Papers leak. …

Panama papers case: SC asks Centre to file 6 reports of Multi-Agency Group
8 years ago

Panama papers case: SC asks Centre to file 6 reports of Multi-Agency Group

Firstpost  

Solicitor General appearing for the Centre, told the court that the bench should first go through reports of the MAG and thereafter decide whether it could be shared with the petitioner New Delhi: The Supreme Court on Tuesday asked the Centre to place before it in a sealed cover all the six reports of the Multi-Agency Group constituted by the …

Panama Leak: SC Seeks Report From Multi-Agency Probe Team
8 years ago

Panama Leak: SC Seeks Report From Multi-Agency Probe Team

Live Law  

The Supreme Court today asked the Centre to file within four weeks in a sealed cover the report of the Multi Agency Investigation Team set up in April last year to probe the panama paper leak caseWith 500 Indians being named in leaked 'Panama Papers' for alleged offshore holdings, government had in April last year formed the group to monitor …

Panama leaks probe: multi-agency group submits reports to govt.
8 years, 9 months ago

Panama leaks probe: multi-agency group submits reports to govt.

The Hindu  

The multi-agency group probing the Panama papers leaks, which has named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports to the government. The Central Board of Direct Taxes has also been updating the Special Investigation Team, set up under the directions of the Supreme Court to monitor cases related to black money, according …

Panama papers probe: Multi-agency group submits three reports to govt
8 years, 9 months ago

Panama papers probe: Multi-agency group submits three reports to govt

Firstpost  

Multi-agency group probing Panama papers, which named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports. New Delhi: The multi-agency group probing Panama papers, which named around 500 Indians who have allegedly stashed money in offshore entities, has submitted three reports to the government. The Central Board of Direct Taxes has also been updating …

37,000 India files in new Panama papers released
8 years, 10 months ago

37,000 India files in new Panama papers released

The Hindu  

The International Consortium of Investigative Journalists late on Monday released 2.6 terabyte of >Panama papers data on over 11.5 million financial and legal records, including about 37,000 files related to India. We do not intend to suggest or imply that any persons, companies or other entities included in the ICIJ Offshore Leaks Database have broken the law or otherwise acted …

Govt. Constitutes SIT on Panama Papers Leaks
8 years, 10 months ago

Govt. Constitutes SIT on Panama Papers Leaks

Live Law  

The Government has constituted a Multi-Agency Group on 4th April 2016, inter alia, for facilitating co-ordinated and speedy investigation in the cases of Indian persons allegedly having undisclosed foreign assets and whose names are reportedly included in Panama Papers leaks. The Group consist of the officers of Investigation Division of the Central Board of Direct Taxes, Foreign Tax & Tax …

Income Tax serves notices to nearly 50 people who figured in leaked Panama documents
8 years, 11 months ago

Income Tax serves notices to nearly 50 people who figured in leaked Panama documents

India TV News  

New Delhi: Income Tax department has dispatched detailed questionnaires to nearly 50 people whose name were appeared in the recently leaked confidential documents of Panamanian law firm Mossack Fonseca. The first part seeks clarification on whether they are the persons named in documents and whether they gave comments attributed to them on the offshore entities listed against their names. A …

Panama Papers: Strict investigation going on, says Jayant Sinha
8 years, 11 months ago

Panama Papers: Strict investigation going on, says Jayant Sinha

India TV News  

New Delhi: A strict investigation into 'Panama Papers' is on to find out if illegal activities have taken place in overseas Indian accounts, while full force of law has been applied to deal with 'wilful default' cases like that of Vijay Mallya, the Finance Ministry said today. Government has already constituted a multi-agency group including representatives of CBDT, Financial Intelligence …

Panama Papers Leaks: PIL filed in Bombay HC demanding CBI probe
8 years, 11 months ago

Panama Papers Leaks: PIL filed in Bombay HC demanding CBI probe

Live Law  

A PIL has been filed at the Aurangabad Bench of Bombay High Court, demanding constitution of an independent investigating body, and a criminal investigation by CBI into the Panama Papers leaks. As an interim measure, it has demanded that all the documents pertaining to the 500 persons be called from the custody of Indian Express to the Court in a …

'Panama Papers': Black money SIT to investigate list
8 years, 11 months ago

'Panama Papers': Black money SIT to investigate list

ABP News  

New Delhi: The Special Investigation Team on black money today said it will investigate thoroughly the reported secret list of about 500 prominent Indians including actors, politicians and businessmen who have allegedly stashed money in offshore entities in tax haven Panama. The latest list, after similar ones came in the the past like 'Swiss leaks' and the HSBC-list related to …

PM Modi sets up multi-agency team on Panama Papers leak, SIT to probe Indian names
8 years, 11 months ago

PM Modi sets up multi-agency team on Panama Papers leak, SIT to probe Indian names

India TV News  

New Delhi: With 500 Indians being reportedly named in leaked 'Panama Papers' for alleged offshore holdings, Prime Minister Narendra Modi today ordered the formation of a multi-agency probe team on the global expose by the International Consortium of Investigative Journalists. "A multi-agency group is being formed to monitor the black money trail," Finance Minister Arun Jaitley said after the expose …

Finance Ministry leak: More officials may be involved, says CBI-India TV News
10 years ago

Finance Ministry leak: More officials may be involved, says CBI-India TV News

India TV News  

New Delhi: According to the sources of Central Bureau of Investigation more government officials are likely to be involved in the alleged sale of confidential documents and information from the Ministries of Finance and Commerce. The new case of corporate espionage relates to documents on foreign direct investment or FDI, allegedly sold for financial gain by the officials to a …

CBI wants to block info about graft against its officials
10 years, 7 months ago

CBI wants to block info about graft against its officials

India TV News  

New Delhi: CBI wants to stop disclosing details of allegations of corruption against its own officials under the RTI Act—an information being provided by it at present under the transparency law. The agency will challenge before the Delhi High Court an order of the Central Information Commission directing the agency to disclose information about its officials Vivek Dutt and Rajesh …

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