-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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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 »‘At the first meeting, Shanti Bhushan said something about how we are here, writing the Constitution afresh’ by Ravish Tiwari
Team Hazare has been very critical of the responses of the government representatives in the drafting committee. They even said the Lokpal had become a Jokepal. During the discussions, we did not want to do anything that would upset the applecart. We did not go to the media, except for Kapil Sibal who held a daily briefing. The Hazare team did not want a joint briefing. We agreed. We did a...
More »Experts oppose move for draconian tax law by Surojit Gupta
The government's move to make tax evasion a criminal offence has drawn strong criticism from former policymakers and commentators, who say if such a move is implemented it will hurt economic activity, undo years of tax reforms and increase harassment. A panel headed by Central Board of Direct Taxes chairman Prakash Chandra, which held its first meeting on Thursday, will examine the proposal. The proposal appears to have been made because...
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...
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