New Delhi: Come next financial year, the PAN card is likely to become the most potent tool for the Income Tax Department to unearth black money, tax evasion and instances of criminal financing in the country. A recent directive of the Central Board of Direct Taxes (CBDT) to the I-T Dept has asked its officials to launch a special drive against those who have "not furnished their PAN (Permanent Account...
10:12 AM, Feb 05, 2012
New Delhi: Liquor baron Gurpreet Chadha alias Ponty Chadha, known to be very close to UP Chief Minister Mayawati, has been raided by the Income Tax Department on Wednesday morning. The Directorate of Criminal Investigation of Income Tax raided 17 places belonging to the liquor baron across Delhi and Uttar Pradesh including his multiplexes in Noida and sprawling farm house in Chattarpur spread over 13 acres. Ponty Chadha is the...
12:11 PM, Feb 01, 2012
New Delhi: The Supreme Court will on Friday pronounce its judgement on Vodafone International Holdings' appeal challenging the income tax demand of Rs 11,000 crore on the overseas deal between Vodafone and Hutchison. Vodafone had moved the apex court challenging the Bombay High Court judgement of September 8, 2010 which had held that Indian IT department had jurisdiction over the deal. Through the $11.2 billion deal in May 2007, Vodafone...
10:00 PM, Jan 19, 2012
New Delhi: The Income Tax Department has slapped a Rs 1,067-crore demand notice on telecom giant Bharti Airtel for non-payment of TDS dues in the last four financial years in connection with its overseas operations, even as the company said it was fully compliant with all the provisions. The department has asked the company to pay a total tax of Rs 1,067.24 crore under sections 201 (consequences of failure to...
07:10 PM, Jan 18, 2012
Chandigarh: Surveillance and Income Tax department teams, deployed for checking black money and narcotics in poll-bound Punjab, have seized close to Rs 18.84 crore cash and confiscated over 36 lakh ML of foreign liquor, a latest data of the state poll body revealed. The Election Commission deputed teams comprising of police and other enforcement agencies have also intercepted and seized contraband like opium, heroin and smack from 27 districts of...
09:27 AM, Jan 15, 2012
Mumbai: The Enforcement Directorate (ED) on Wednesday opposed the bail plea of Kashinath Tapuriah, aide of Hasan Ali Khan arrested for alleged money laundering, contending that he is sufficiently influential due to his political connections. Tapuriah had approached the Bombay High Court seeking bail on the ground that he has been implicated in the case and that there is no evidence against him. Additional solicitor general Darius Khambata, arguing for...
07:54 PM, Dec 07, 2011
New Delhi: The Enforcement Directorate will attach an estimated Rs 50 crore of assets of Pune stud farm owner and alleged tax defaulter Hasan Ali Khan and his Kolkata-based associate Kashinath Tapuriah in a money laundering case. The Adjudicating Authority of the agency based in Delhi recently endorsed an order of ED's Mumbai office in this regard, paving way for attachment of the duo's immovable properties in Mumbai, Pune and...
01:05 PM, Nov 04, 2011
Mumbai: The Income Tax Department on Thursday conducted searches at the premises of prominent industrialist Gautam Singhania in Mumbai and in Delhi over alleged tax evasion. The I-T operation began early in the morning and was initiated by the Intelligence Wing of the department. A team of about 150 I-T sleuths began searching the official premises of the business tycoon, who is the Chairman and Managing Director of the Raymond...
01:45 PM, Nov 03, 2011
New Delhi: The Black money debate has returned to haunt the UPA, even as the Income Tax Department has started probing accounts of 782 Indians in a Swiss bank for suspected black money. A list of the top Indian black money account holders of HSBC bank in Switzerland could make things more difficult for the Centre, as the list includes the who's who of the country - one reason why...
09:07 PM, Nov 01, 2011
New Delhi: The BJP and the Congress on Tuesday targetted each other over the black money issue even as the Income Tax Department is looking at 782 Indian accounts in HSBC Geneva for suspected black money. Targetting the UPA, the BJP said that the Government has failed to deliver on its promises on curbing the black money menace. "The UPA had promised that they would initiate the process to get...
05:17 PM, Nov 01, 2011
New Delhi: Resignations of four Indian Revenue Service officers, including Magsaysay awardee and Team Anna member Arvind Kejriwal, have not been accepted by the government due to pending requisite formalities. Between 2007-11, resignations of 15 IRS (T) officers were accepted which include two officers - Amita Sharma and Ambika Prasad, who were asked to pay dues of Rs 9.15 lakh and Rs 8.36 lakh respectively before clearance was granted. The...
12:34 PM, Oct 30, 2011
New Delhi: Team Anna member Arvind Kejriwal on Thursday said he will take more time to decide on the Income Tax Department's notice asking him to pay Rs 9.5 lakh tax. The department set Thursday, October 27 as the last date for paying the tax. "I will consult my friends and take a decision in another 5 to 7 days. They had given very little time," said Arvind Kejriwal. The...
03:11 PM, Oct 27, 2011
New Delhi: Team Anna member Arvind Kejriwal has to deposit Rs 9.5 lakh by Thursday after being issued a notice by the Income Tax Department. The notice was served a week before Anna Hazare kicked off his anti-corruption crusade on August 16 at Ramlila Maidan. Kejriwal, who is in the midst of a controversy over payments due from him from the government for alleged violation of service norms, was issued...
07:51 AM, Oct 27, 2011
New Delhi: In what comes as a fresh trouble for anti-corruption crusader Anna Hazare's key aide Arvind Kejriwal, the Income Tax department has issued a fresh notice to him. Kejriwal has been asked by the department to deposit Rs 9.5 lakh by October 27. On September 2, Kejriwal was served a notice in this regard by the I-T department, accusing him of violating bond conditions. Incidentally, Kejriwal is still an...
01:32 PM, Oct 21, 2011
Mumbai: Income-Tax department has initiated inquiry against 57 members of the Adarsh Housing Society, including relatives of former Maharashtra Chief Minister Ashok Chavan, regarding their source of funds through which flats were purchased in the scam-tainted building in south Mumbai. Stating that its investigations are complete, Income Tax informed the Bombay High Court that inquiry had been initiated in 57 cases and notices were issued to those persons. "Out of...
12:39 AM, Oct 12, 2011
New Delhi: Alleging there was a 'criminal nexus' between Uttar Pradesh Chief Minister Mayawati and her relatives, CBI on Tuesday told the Supreme Court that the disproportionate assets case against her cannot be closed on the basis of conclusions arrived by the Income Tax department. In a fresh affidavit submitted before the apex court, the CBI rejected Mayawati's stand that the DA case should come to an end after the...
09:22 PM, Sep 13, 2011
Mumbai: The Bombay High Court on Friday granted bail to Pune stud farm owner Hasan Ali Khan, arrested in March for alleged involvement in multi-crore money laundering scam, observing that there is nothing in Enforcement Directorate's case to show that the money amassed by him are proceeds of crime. "There are no ingredients of proceeds of crime in the case made out by the Enforcement Directorate against Hasan. He deserves...
04:43 PM, Aug 12, 2011
New Delhi: A Delhi court on Wednesday cut-short hearing in the 2G spectrum case to facilitate the Income Tax department to begin its three-day interrogation of former Telecom Minister A Raja and five other co-accused. Raja, Swan Telecom Promoters Shahid Usman Balwa and Vinod Goenka and three top Reliance ADAG officials - Gautam Doshi, Hari Nair and Surender Pipara - were allowed to be quizzed in judicial custody by the...
07:26 PM, Jul 27, 2011
New Delhi: The Income Tax Department will open 50-special counters at Vikas Bhawan (near ITO) for residents of North-East and North-West Delhi from July 28 to July 31 to file their tax returns. The last date for filing of income tax returns for the assessment year 2011-12 is July 31. "The ITD, New Delhi, is setting up Special counters to avoid last minute rush," Chief Commissioner (IT) Digvijai Kumar told...
07:46 PM, Jul 26, 2011
New Delhi: An Income Tax department team will fly down from Chennai on Wednesday to question former telecom minister A Raja in Tihar jail, for his alleged involvement in the 2G spectrum allocation scam. The two-member team, led by an Additional Commissioner rank officer, will quiz Raja in the afternoon at the jail complex where he is presently lodged in judicial custody. "Former telecom minister A Raja will be questioned...
06:48 PM, Jul 26, 2011
