CBDT issues directive to finish probe in blackmoney case by 31 March
10 years, 2 months ago

CBDT issues directive to finish probe in blackmoney case by 31 March

Firstpost  

New Delhi: Investigations against black money holders in Swiss bank accounts, known as the HSBC list, have been put on a fast-track as the CBDT has asked tax sleuths to quickly gather all foreign-based evidences in these cases and render final action by March-end. They said the Central Board of Direct Taxes, the apex policy making body of the I-T department, decided to fasten these cases as the probe against these black money holders will not hold legal value after 31 March, 2015 as that it is the upper limit stipulated under law to prosecute and initiate legal action in these cases which pertain to 2007-08 fiscal. Sources said the exclusive Exchange of Information unit under the foreign tax wing of the CBDT has asked the I-T department to specifically focus on cases getting “time barred by 31 March” so that legal requests could be sent abroad to countries like the US, UK, Switzerland and Gulf. “Out of the 628 persons, 201 are either non-residents or non-traceable, leaving 427 persons cases as actionable cases,” the report said which was released as part of the “relevant portion of the second report of SIT on black money” by the government. “An amount of Rs 2,926 crore has been brought to tax towards the undisclosed balances in the accounts relating to these persons,” the report said, adding that penalty proceedings under the I-T Act have been initiated in 46 cases.

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History of this topic

CBI seeks US assistance in Rs 64 crore Bofors scam, sends judicial request
3 weeks, 6 days ago

CBI seeks US assistance in Rs 64 crore Bofors scam, sends judicial request

India Today  

The Central Bureau of Investigation has sent a Letter of Rogatory to the United States, seeking information from private investigator Michael Hershman regarding the Rs 64-crore Bofors bribery scandal. The CBI sought relevant documents from the Finance Ministry regarding Hershman's engagement but was informed that no such records were available due to the case's age. With the approval of the …

CBI files case against its officer in bribery case, Rs 55 lakh seized in raids
2 months, 4 weeks ago

CBI files case against its officer in bribery case, Rs 55 lakh seized in raids

India Today  

The Central Bureau of Investigation registered a case against one of its own Deputy Superintendents of Police, BM Meena, and others on charges of corruption. Investigators also seized property documents worth approximately Rs 1.78 crore and book entries reflecting transactions of Rs 1.63 crore. According to the First Information Report, Meena allegedly used middlemen to transfer bribe money through a …

Hours after ED searches, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case
Trending News
4 months, 1 week ago

Hours after ED searches, CBI summons audit company employee Gaurav Mehta in Bitcoin scam case

New Indian Express  

NEW DELHI: The CBI on Wednesday summoned Gaurav Mehta, an audit company employee, to appear before it as soon as possible in connection with the Rs 6,600-crore Gain Bitcoin ponzi scam case, officials said. The Central Bureau of Investigation, which is probing the Gain Bitcoin ponzi "scam" on the directions of the Supreme Court, swung into action hours after the …

CBI begins probe into Rs 6,600-crore Maharashtra 'bitcoin scam', case against 2
Top News
4 months, 1 week ago

CBI begins probe into Rs 6,600-crore Maharashtra 'bitcoin scam', case against 2

India Today  

The CBI on Wednesday began an investigation into an alleged Maharashtra 'bitcoin scam' case amounting to Rs 6,600 crore and filed a case against two masterminds and called another one for questioning. The CBI summoned Gaurav Mehta, another accused in the case, and asked him to appear before the investigating officer at the earliest. The CBI probe came a day …

Maharashtra bitcoin scam: CBI files case against Amit Bhardwaj and Ajay Bhardwaj amid ED raids in Raipur
4 months, 1 week ago

Maharashtra bitcoin scam: CBI files case against Amit Bhardwaj and Ajay Bhardwaj amid ED raids in Raipur

India TV News  

Maharashtra bitcoin scam: The Central Bureau of Investigation on Wednesday filed a case against Amit Bhardwaj and Ajay Bhardwaj - accused in the Bitcoin Sam case. The matter took centerstage after former IPS officer from Pune Ravindranath Patil made an allegation against Sule and Patole over their alleged role in misappropriately using bitcoins from a 2018 cryptocurrency fraud case to …

163 Black Money Act probes conducted in 9 years
7 months, 3 weeks ago

163 Black Money Act probes conducted in 9 years

Hindustan Times  

In the last nine years, there have been 163 investigations and assessment orders passed in 652 cases raising an aggregate demand of ₹17,162 crore under the Black Money Act, the Centre informed Parliament on Tuesday. In a written reply, Union minister of state for finance Pankaj Chaudhary said in Rajya Sabha: “As on March 31, 2024, orders u/s 10/10 of …

India launched 163 probes under Black Money Act in 9 years: Centre informs Parliament
7 months, 3 weeks ago

India launched 163 probes under Black Money Act in 9 years: Centre informs Parliament

Hindustan Times  

India has launched 163 investigations and passed assessment orders in 652 cases, raising a demand of ₹17,162 crore in last nine years under the Black Money Act, the Centre informed the Parliament on Tuesday. In a written reply, Union minister of state for finance Pankaj Chaudhary said in Rajya Sabha, “As on March 31, 2024, orders u/s 10/10 of the …

CBI registers case in minority scholarship scam after central govt investigation finds embezzlement worth 144.33 crores
1 year, 7 months ago

CBI registers case in minority scholarship scam after central govt investigation finds embezzlement worth 144.33 crores

Op India  

The Central Bureau of Investigation has registered a case against unnamed officials, nodal officers, and PSU bank staffers for a scam in minority scholarships worth Rs 144 crores. Central Bureau of Investigation registers case against unknown officials in connection with alleged minority scholarship scam of Rs 144 crores — ANI August 29, 2023 As per the FIR filed by CBI, …

Bengal Teachers' Recruitment Scam: CBI Files Fresh FIR To Probe Irregularities By Primary Education Board
2 years ago

Bengal Teachers' Recruitment Scam: CBI Files Fresh FIR To Probe Irregularities By Primary Education Board

ABP News  

The Central Bureau of Investigation has filed a fresh FIR into the allegation of irregularities in the recruitment of primary school teachers by the West Bengal Board of Primary Education, as reported by the news agency ANI. In October 2022, ED arrested Trinamool Congress MLA, and Ex-President of WBBPE Manik Bhattacharya in the case pertaining to the teachers' recruitment scam …

Black Income of Rs 200 Crore Found After Raids on Pune Business Group: CBDT
3 years, 4 months ago

Black Income of Rs 200 Crore Found After Raids on Pune Business Group: CBDT

News 18  

The income tax department has detected unaccounted income of over Rs 200 crore after it raided a Pune-based business group engaged in the manufacturing of heavy machinery like excavators and cranes, the CBDT claimed on Tuesday. “The search action has resulted in seizure of unaccounted cash and jewellery of Rs 1 crore and three bank lockers have been placed under …

I-T department detects Rs 300 crore black money after raiding 2 Chennai financing groups
3 years, 6 months ago

I-T department detects Rs 300 crore black money after raiding 2 Chennai financing groups

India TV News  

The Central Board of Direct Taxes on Saturday claimed that the Income Tax Department has detected "unaccounted" income of over Rs 300 crore after it raided two private syndicate financing groups in Chennai. "The searches, so far, have resulted in the detection of undisclosed income of more than Rs 300 crore and unaccounted cash of Rs 9 crore has been …

CBDT claims ₹2,200-cr ’fictitious transactions’ after I-T raids on media group
3 years, 8 months ago

CBDT claims ₹2,200-cr ’fictitious transactions’ after I-T raids on media group

Live Mint  

The CBDT on Saturday claimed to have detected "fictitious transactions" of ₹2,200 crore after the Income Tax Department carried out multi-city raids against the Dainik Bhaskar media group early this week. The CBDT statement alleged that the group has more than 100 companies including the holding and subsidiary companies and that they have been operating several companies in the names …

I-T department searches Tamil Nadu education group, detects ₹150-cr tax evasion
4 years, 5 months ago

I-T department searches Tamil Nadu education group, detects ₹150-cr tax evasion

Live Mint  

The Income Tax department on Wednesday raided a Tamil Nadu-based group running multiple educational institutions and the action had led to detection of alleged tax evasion worth about ₹150 crore, the CBDT said today. "The search was carried out on the basis of information that fees collected from students were not fully accounted for in the regular books of accounts," …

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 …

IT Dept issues notices in 380 cases of undisclosed foreign assets of Rs 12,260 cr
5 years, 9 months ago

IT Dept issues notices in 380 cases of undisclosed foreign assets of Rs 12,260 cr

India TV News  

The Income Tax Department has issued notices in 380 cases involving undisclosed assets of over Rs 12,260 crore under the foreign black money act, Finance Minister Nirmala Sitharaman said Monday. "As an outcome of the actions taken by the I-T Department under Black Money and Imposition of Tax Act, 2015, as on April 30, 2019, notices under the Act have …

CBDT asks I-T Dept to probe about 3 lakh de-registered firms for money laundering
6 years 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 registers 5 cases against HAL senior manager, others for misappropriating funds to tune of Rs 13 crore
6 years, 2 months ago

CBI registers 5 cases against HAL senior manager, others for misappropriating funds to tune of Rs 13 crore

India TV News  

The Central Bureau of Investigation has registered five cases against Hindustan Aeronautics Ltd senior Manager Bhabhen Maitra and others for misappropriating funds to the tune of Rs 13 crore. According to IANS, the investigative agency took action after a complaint by Uday Kumat Rout, Manager of the HAL Engine Department, late on Tuesday. Apart from Maitra, the CBI has also …

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 …

CBDT asks I-T to slap higher tax rate on misused income tax returns, black money shown as white
7 years, 4 months ago

CBDT asks I-T to slap higher tax rate on misused income tax returns, black money shown as white

Firstpost  

Unaccounted income so assessed in scrutiny assessment is liable to be taxed at a higher rate without any set off losses, expenses New Delhi: The Central Board of Direct Taxes has asked the taxman to go over with a fine tooth-comb scrutiny cases where a taxpayer has filed a revised income tax return post-demonetisation and directed them to slap “higher …

CBI unearthed ₹ 396 crore post-demonetisation
7 years, 4 months ago

CBI unearthed ₹ 396 crore post-demonetisation

The Hindu  

The CBI had registered 77 cases and seven preliminary enquiries related to demonetisation of high denomination currency notes said the agency spokesperson, Abhishek Dayal at a press conference here on Wednesday. Since the restrictions on individuals in terms of withdrawals of new currency, investigation is to find out how they could come in possession of such amounts,’’ Mr. Dayal said. …

Black Money: I-T department cracks down against tax evasion of Rs 100 cr, raids 50 locations across India
7 years, 11 months ago

Black Money: I-T department cracks down against tax evasion of Rs 100 cr, raids 50 locations across India

India TV News  

In first major action after the black money disclosure window of PMGKY came to an end, the Income Tax department today conducted searches at over 50 locations as part of its crackdown against tax evasion to the tune of over Rs 100 crore. This is the first major I-T action after the black money window of the Pradhan Mantri Garib …

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 …

Black money law: Finance Ministry wants people to address queries to CBDT |IndiaTV News
9 years, 8 months ago

Black money law: Finance Ministry wants people to address queries to CBDT |IndiaTV News

India TV News  

New Delhi: Finance Ministry on Tuesday dismissed some media reports on the new blackmoney law as "surmises" and asked people to address queries directly to the revenue department. Without specifying the reports, the Ministry said that over the last few days a number of reports have appeared in the media "expressing views and concerns" regarding the applicability of various provisions …

Blackmoney: Dossier on 15 entities with government| IndiaTV News
9 years, 10 months ago

Blackmoney: Dossier on 15 entities with government| IndiaTV News

India TV News  

New Delhi: The Supreme Court constituted Special Investigation Team on black money has received a new dossier on tax related business information on about 15 entities which have allegedly stashed illicit money abroad. Work is also "in progress" in various investigation and enforcement agencies regarding 600 suspect names and addresses obtained from abroad by the Central Economic Intelligence Bureau. The …

SIT on black money reviewed the work of agencies in the probing of tax evasion-India TV News – India TV
9 years, 11 months ago

SIT on black money reviewed the work of agencies in the probing of tax evasion-India TV News – India TV

India TV News  

New Delhi: The Special Investigation Team on black money today reviewed the work done by various agencies in connection with their respective probes in tax evasion, duty theft and money laundering cases. The meeting held in the national capital is seen as important as the high-powered panel is soon expected to file a fresh status report in the Supreme Court …

Blackmoney: I-T dept To File 100 More Complaints In Court
10 years, 1 month ago

Blackmoney: I-T dept To File 100 More Complaints In Court

The Quint  

The Income Tax department is set to launch over 100 fresh prosecution complaints for “wilful” evasion of taxes against those entities and individuals whose names have figured in the HSBC, Geneva blackmoney bank accounts list. “Some 100 or more prosecution cases would be filed by the tax department before March 31 in the HSBC Bank Geneva branch blackmoney cases. Till …

Need to temper expectations
10 years, 1 month ago

Need to temper expectations

The Hindu  

Fresh revelations about the existence of a list of 1,195 Indians with accounts in a bank in Switzerland, estimated to contain funds to the tune of Rs.25,420 crore, has escalated the pressure on the government to make renewed efforts to trace unaccounted money stashed away abroad. In the public imagination, the archetypal holder of a Swiss bank account is the …

Black money probe to be over by January
10 years, 3 months ago

Black money probe to be over by January

The Hindu  

Shah, chairman of the Supreme Court-appointed Special Investigation Team on black money, said here on Saturday that the investigation into the accounts of 628 Indians who allegedly parked black money abroad would be “virtually over” by January-end. The word from the SIT chairman follows a recent Supreme Court direction to the Centre to complete prosecution against the holders of unaccounted …

Blackmoney: Supreme Court asks Centre to ensure IT probe by March, 2015
10 years, 3 months ago

Blackmoney: Supreme Court asks Centre to ensure IT probe by March, 2015

India TV News  

New Delhi: The Supreme Court today asked the Centre to ensure that the ongoing income tax probe for suspected black money concerning 627 Indians who have accounts in HSBC bank, Geneva, be completed by March next year so that they do not get time barred. A Bench headed by Chief Justice H L Dattu also asked the apex court-appointed Special …

Black money case: Ponzi scheme, defence, export deals under SIT scanner
10 years, 4 months ago

Black money case: Ponzi scheme, defence, export deals under SIT scanner

Firstpost  

Among the other cases the SIT is probing reportedly include a ponzi scheme, defence deals, Ketan Parekh stock market scam and other import-export cases. The Special Investigation Team appointed by the Central Government to look into the menace of black money may currentlyhave its hands full with the over 600 Swiss bank account holders’ detailsgiven to it by the Supreme …

Black money: I-T probe to be completed by March 2015
10 years, 5 months ago

Black money: I-T probe to be completed by March 2015

The Hindu  

Following the Supreme Court’s directive on Tuesday, Attorney General Mukul Rohatgi on Wednesday submitted to the court in a sealed envelope, a list of 627 names of persons with foreign accounts along with a status report regarding the investigation conducted against them and. Mr. Rohatgi told the court said the investigation into the income tax violations would be completed by …

Earlier investigations messed up Saradha probe: CBI
10 years, 6 months ago

Earlier investigations messed up Saradha probe: CBI

India TV News  

Kolkata: The Special Crime branch of CBI, which started probing the multi-crore Saradha scam at the instance of Supreme Court three months back, said that the earlier investigations by multiple agencies had `disarrayed' the matters. But investigations made by SIT formed by the West Bengal government and the Economic Offences Cell also of the state government have messed up the …

CBI books Syndicate Bank CMD for bribery
10 years, 7 months ago

CBI books Syndicate Bank CMD for bribery

The Hindu  

Syndicate Bank Chairman-cum-Managing Director S.K. Among the others named in the two cases are Bhushan Steel vice-president Neeraj Singal; Prakash Industries CMD Ved Prakash Agarwal and another representative Vipul Agarwal; Chartered Accountant Pawan Bansal; and Mr. Jain’s relatives Vineet and Puneet Godha, besides Vijay Pahuja, Purushottam Lal Totlani and Pankaj Bansal. During searches, the CBI allegedly seized Rs.21 lakh in …

Income Tax Department detects black money worth Rs.1 lakh crore
10 years, 8 months ago

Income Tax Department detects black money worth Rs.1 lakh crore

India TV News  

New Delhi: The Income Tax Department has detected undisclosed income worth Rs.1 lakh crore in the financial year 2013-14, which is more than double the figure seized by the tax sleuths during raids to unearth black money in the financial year 2012-13. According to official data, the I-T department detected undisclosed income worth Rs 10,791.63 crore in search operations during …

Blackmoney: Over Rs 1 lakh crore illegal income detected
10 years, 8 months ago

Blackmoney: Over Rs 1 lakh crore illegal income detected

India TV News  

New Delhi: Government has detected over Rs one lakh crore of undisclosed income in the last financial year, a figure more than double as compared to the search and seizure action undertaken by the Income Tax department during 2012-13 to check black money. According to official data, the I-T department detected undisclosed income worth Rs 10,791.63 crore in search operations …

No official estimate on black money: Jaitley
10 years, 8 months ago

No official estimate on black money: Jaitley

The Hindu  

Union Finance Minister Arun Jaitley on Friday said there is no official estimate on black money and a study commissioned by the government to ascertain the amount are yet to be completed. Mr. Jaitley also informed the Lok Sabha that “sustained efforts” to obtain information about Indians having black money stashed abroad have resulted in levy of taxes and penalty …

No official estimate on black money, says Jaitley
10 years, 8 months ago

No official estimate on black money, says Jaitley

Firstpost  

The government has commissioned studies to ascertain unaccounted income and wealth both within and outside the country. New Delhi: Finance Minister Arun Jaitley today said there is no official estimate on black money and a study commissioned by the government to ascertain the amountare yet to be completed. Jaitley also informed the Lok Sabha that “sustained efforts” to obtain information …

CBI begins probe into Saradha chit fund scam
10 years, 10 months ago

CBI begins probe into Saradha chit fund scam

Firstpost  

CBI began its probe into the infamous Saradha chit fund scam. CBI probe into Saradha chit fund scam begins New Delhi: CBI has begun its probe in the over Rs 10,000-crore Saradha chit fund case as its seven-member Special Investigating Team started collecting documents pertaining to the cases from four states and other agencies. Over the next two weeks, CBI …

SC directs CBI probe against BSY in Illegal mining case
12 years, 10 months ago

SC directs CBI probe against BSY in Illegal mining case

India TV News  

New Delhi, May 11: In a setback to former Karnataka Chief Minister B S Yeddyurappa, the Supreme Court today directed a CBI probe against him for allegedly granting undue favours to firms involved in illegal mining in lieu of donations to a charitable trust run by his kin. A Special Forest bench headed by Chief Justice S H Kapadia directed …

Swamy To File FIR On Black Money With CBI
13 years, 4 months ago

Swamy To File FIR On Black Money With CBI

India TV News  

Ahmedabad, Nov 12: Janata Party president Subramanian Swamy today said he will soon register an FIR with CBI on the issue of black money stashed in foreign countries that would help him obtain letter rogatory from a court and his organisation then can directly approach foreign countries to get details of funds stashed. “After studying the laws on how to …

CBI to intensify 2G spectrum scam probe
14 years, 3 months ago

CBI to intensify 2G spectrum scam probe

The Hindu  

With the Supreme Court monitoring the probe into the 2G spectrum scam and widening its ambit, the Central Bureau of Investigation appears all set to intensify its ongoing investigations. After two rounds of search operations that took into their ambit former Telecom Minister A. Raja, his close associates and former Telecom ministry officials, the CBI may sharpen its offensive and …

CBI files status report on 2G
14 years, 4 months ago

CBI files status report on 2G

The Hindu  

The Central Bureau of Investigation submitted its status report in the Supreme Court in a sealed cover on Monday, giving details of the investigation conducted so far in the 2G spectrum case. The development comes in the wake of the court asking what action the agency had taken against those involved in the scam and why it had not so …

CBI declines to comment on Raja
15 years, 5 months ago

CBI declines to comment on Raja

The Hindu  

The Central Bureau of Investigation Director Ashwani Kumar on Tuesday refused to answer whether the investigating agency was also probing the role of Union Minister A. Raja in the alleged irregularities in the award of telecom licences to private companies last year. The CBI had registered a case on October 21 against unknown officials of the DoT, some private companies, …

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