The government has set the ball rolling for estimating black money by signing agreements with three leading think-tanks NCAER, NIFM and NIPFP to conduct study on unaccounted income generated inside and outside the
Income Tax department initiated an inquiry into around 8,000 MoUs signed by several investors and the state govt at this year`s high profile Vibrant Gujarat Summit(VGS) to bring in an anticipated Rs 21 lakh crore investment.
The Income-Tax department has filed an appeal in Bombay High Court against an order of its tribunal allowing Bollywood actor Shah Rukh Khan to seek tax reliefs for using his membership at a club in suburban Bandra and his BMV Range Rover car for professional reasons.
The government said both the Enforcement Directorate (ED) and I-T Department are pursuing cases relating to the alleged tax evasion of up to USD 15 billion and money laundering by Pune-based stud farm owner Hasan Ali.
The I-T dept probing alleged irregularities in the funding & bidding of IPL franchisees has received reports relating to expenses incurred by franchisees in South Africa where the second edition took place last year.
Two unidentified persons
tonight assaulted the son of an income tax inspector who was
one of the officials engaged in the investigation into the
hawala scam allegedly involving former Jharkhand Chief
Minister Madhu Koda.
Vinod Sinha, a key accused along with MP Madhu Koda in a Rs.2,000 crore scam in Jharkhand, says the former chief minister "is a good friend" and that the scandal is politically motivated ahead of assembly polls from Nov 25.
With Vinod Kumar Sinha, a close
aide of former Jharkhand Chief minister Madhu Koda, still in
hiding, Income Tax department tonight set a four-day ultimatum
to him to appear before it or face legal action.