-The Economic Times While there are ripples in political circles over the estimated black money stashed by Indians in tax havens abroad - as quoted by the Central Bureau of Investigation chief Amar Pratap Singh on Monday - sources say that the agency has arrived at the figure following cross-checking several sources, reports and a rough estimation.  "Most of the illegal money abroad forms part of tax evasion by individuals and companies,"...

Justice A K Ganguly, who was part of the bench that monitored the CBI probe into the 2G spectrum scam and retired soon after pronouncement of the explosive judgment ordering cancellation of telecom licences, wants the Supreme Court to follow what it has prescribed for the high courts - no judgment should remain reserved for more than three months.  Justice Ganguly said litigants develop a grudge against the justice delivery system...

Indians with undisclosed foreign assets and offshore bank accounts will be in for a shock this Budget if the finance ministry clears a proposal empowering income tax authorities to reopen assessments up to 16 years as against 6 years now.  The proposed amendment, the ministry feels, may not only act as a deterrent, but also put pressure on people to declare their wealth stashed away in Swiss banks and tax havens.  In...

-ENS Economic Bureau   Estimates on black money stashed away by Indians is still very much a grey area. So when the CBI Director emphatically declared on Monday that $500 billion of illegal money belonging to Indians was deposited in tax havens abroad, the figure caused more than a mild flutter.   Mainly because the information currently available on the black money economy is way too disparate and vague. Considering the available evidence, the...

-PTI The Centre has issued a new set of guidelines to seize properties or money of corrupt government officials even after their retirement.  The norms, made in consultation with the ministry of law and justice, says a competent authority in the department concerned can give sanction to the Centre for such attachment. The guidelines assume significance as most departments and investigating agencies like the CBI have in the past expressed difficulty in...