-The Telegraph The finance and law ministries have locked horns over who will lead the battle against black money. A meeting of a finance ministry probe team under the chairman of the Central Board of Direct Taxes (CBDT) has been put off indefinitely following a Supreme Court order to set up a special investigative team (SIT), headed by former apex court judge B.P. Jeevan Reddy, to probe illicit funds. While the panel...
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Overreaching? by Pratap Bhanu Mehta
The latest Supreme Court order appointing two former justices to superintend the special investigation team (SIT) on black money is a serious indictment of government. It reflects a widespread sentiment about the laws of government motion: government is a body that will not move unless compelled by an external force. A shameless government is provoking a thousand saviours to step in and save the country. The Supreme Court is, rightly,...
More »Finance min asked to probe assets of former CJI
-The Times of India The home ministry has asked the finance ministry to conduct a probe into the assets of former Chief Justice of India, K G Balakrishnan, in what could possibly lead to action against him for allegedly possessing wealth disproportionate to his income. Sources said the ministry has written to the revenue secretary, asking him to institute an inquiry through the Central Board of Direct Taxes. "The inquiry would be...
More »Committee on black money to seek comments from public by Sujay Mehdudia
-The Hindu The High Level Committee appointed for tracing black money stashed away abroad and unearthing such ill-gotten wealth in the country, on Thursday decided to seek public comments on the issue. The committee, headed by Central Board of Direct Taxes chairman Prakash Chandra, held its first meeting and discussed laws that need to be amended to tackle the menace. It was set up by Union Finance Minister Pranab Mukherjee last...
More »Panel set up to curb black money by Surojit Gupta
The central government on Saturday set up a committee to examine ways to tighten laws to curb black money generation. The panel is to submit its report within six months after consultations with the stakeholders. The panel headed by thw Central Board of Direct Taxes (CBDT) chairman will study ways to prevent the transfer of black money abroad, besides recovering such illegal assets. The committee will also examine the existing legal and...
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