-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...
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Rs 565 cr stashed in Geneva accounts: Report by Ritu Sarin
The government’s draft report on black money — that has been circulated to members of the high level committee on black money for final comments — confirms that details of the HSBC accounts in Geneva have given the country its biggest black money trail. Citing this as an instance where the government has moved fast in tracing the coded account holders, the report states that the receipt resulted in information...
More »SC asks Centre about action taken against ex-CJI by KG Balakrishnan
The Supreme Court has asked the Centre to apprise it on the action taken against former Chief Justice and NHRC chief KG Balakrishnan in the disproportionate assets case against him. The court has asked the government to reply by March 12 on the actions that it has taken or intends to take against the former CJI. "We want to know what was done on the representation (before the government against ex-CJI)...
More »Year of criticism, from the bench and against it by Krishnadas Rajagopal
Judicial activism was the key in many Supreme Court observations and judgments during 2011. 2011 CVC THOMAS: A three-judge bench led by CJI SH Kapadia declared “non est” — or nonexistent — the majority recommendation of a high-powered committee for P J Thomas as Central Vigilance Commissioner. The court ruled that the Prime Minister and the Home Minister’s recommendation amounted to “official arbitrariness”, coming in spite of the dissent of the third...
More »I-T searches unearthed Rs 18700 crore in last 2 years
More than Rs 18,700 crore of unaccounted wealth has been unearthed across the country after searches were conducted by the income tax officials in the last two years, the Central Board of Direct Taxes said on Friday. The body has, however, denied any harassment has been caused to any industrialist or business establishment anywhere in the country due to I-T search and survey operations. "Search and seizure is conducted on the basis...
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