Black money: Income Tax probe to be completed by March 2015

October 30, 2014

New Delhi, Oct 30: Following the Supreme Court’s directive on Tuesday, Attorney General Mukul Rohatgi on Wednesday submitted to the court in a sealed envelope, a list of 627 names of persons with foreign accounts along with a status report regarding the investigation conducted against them and .

Rohatgi
Mr. Rohatgi told the court said the investigation into the income tax violations would be completed by March 31, 2015. Some people had accepted that they had accounts in foreign banks and paid tax, the A-G added.

He said the Centre was not interested in protecting anyone and would follow the court's orders. Mr. Rohatgi said India is to sign a treaty for automatic exchange of financial account information under which the government will be able to obtain detailed information from financial institutions in their respective countries and also exchange them automatically with other nations on an annual basis.

Mr. Rohatgi said India also has to sign the Foreign Account Tax Compliance Act with the U.S. government by December 31, 2014. The law would enable the U.S. government to supply data on Indians in the U.S. and vice versa.

“If India fails to keep the confidentiality clause, the U.S. will back out of such a treaty. Without the treaty, the U.S. will slap a 30 per cent withholding tax on all remittances from the U.S, including exports,” he said.

Earlier Mr. Rohatgi submitted that the first list submitted to the Court contained details of correspondence, treaties and agreements that India had signed with France and other nations where the illegal money was said to be stashed. He said the second list contained all the 627 names and the third gave the status report on the probe in these cases.

Mr. Rohatgi said more than half the people in the list of 627 were Indian nationals while the rest were NRIs. He said most of them had accounts with the HSBC Bank, Geneva.

The A-G said the details of account holders with entries up to 2006 were supplied by the French government to the Centre in 2011. The data was stolen from the HSBC Bank in Geneva, which later reached France from where the government got the information, he said.

When the CJI asked the A-G if the government was pressing for modification of the court's orders, Mr. Rohatgi replied in the negative but said the government should be allowed to approach the SIT in this regard.

The Bench asked the SIT to submit a status report on the probe it conducted by November 30 and posted the matter for further hearing on December 3.

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September 17,2024

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New Delhi, Sept 17: Atishi will be the new Chief Minister of Delhi. The decision came after a legislative party meeting was chaired by Arvind Kejriwal at his Delhi residence earlier today.

Kejriwal is expected to tender his resignation later today, and will also meet Lieutenant Governor VK Saxena at 4.30 pm.

On September 13, Arvind Kejriwal was released from Tihar Jail, where he had been lodged for his alleged involvement in the Delhi liquor policy case. Nearly two days after his release, on Sunday, Kejriwal said he would resign as the Chief Minister within 48 hours.

He also sought early polls in Delhi, and vowed not to sit in the chief minister’s chair until people gave him a “certificate of honesty”.

On Monday, the AAP held a series of meetings as Kejriwal sought feedback from members of the political affairs committee, the party’s highest decision-making body, on his successor in one-on-one meetings at his official residence.

Names of Delhi ministers Atishi, Gopal Rai, Kailash Gahlot and Saurabh Bharadwaj were making the rounds as contenders, news agency PTI had quoted party insiders as saying and added that Kejriwal’s wife Sunita Kejriwal and Assembly Speaker Ram Niwas Goel were also the probables.

Mangolpuri MLA Rakhi Birla, who is also the deputy speaker in the assembly, and Kondli legislator Kuldeep Kumar were also potential candidates, they added.

Earlier, sources with the AAP had told PTI that the surprise candidate could also be a member of the minority community as the party has witnessed its support among the community wavering since the 2020 Delhi riots.

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September 15,2024

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New Delhi: Two days after he was granted bail and walked out of prison after six months, Delhi Chief Minister Arvind Kejriwal announced his shock resignation from the top post at a party meeting this afternoon. "Two days later, I will resign as Chief Minister. I will not sit on that chair till the people announce their verdict. Elections in Delhi are months away. I got justice from the legal court, now I will get justice from the people's court. I will sit on the Chief Minister's chair only after the order of the people," he said. 

"I want to ask the people of Delhi, is Kejriwal innocent or guilty? If I have worked, vote for me," he said, adding that a meeting of AAP MLAs will be held within the next two days to choose the new Chief Minister for the national capital.

The Aam Aadmi Party (AAP) leader said a member of the party will be named Chief Minister after his resignation. He said he would go among the people and ask for their support. Mr Kejriwal also demanded that the elections in the national capital, scheduled for February, be held in November along with the polls in Maharashtra.

In his address to the AAP workers, Mr Kejriwal launched an all-out attack against the Narendra Modi government and said it was more dictatorial than the British.

He said he did not resign as Chief Minister despite being arrested because he wanted to save democracy. "They have registered cases against (Karnataka Chief Minister) Siddaramaiah, (Kerala Chief Minister) Pinarayi Vijayan, (Bengal Chief Minister) Mamata didi (Banerjee). I want to appeal to non-BJP, do not resign if they register cases against you. This is their new game," he said.

Mr Kejriwal said he had also spoken to former Deputy Chief Minister Manish Sisodia about the issue. Mr Sisodia too was recently granted bail in connection with corruption allegations surrounding Delhi's now-scrapped liquor policy. "I spoke to Manish, he too has said that he will handle the post only after the people say we are honest. My and Sisodia's fate are in your hands now," he said.

Responding to the shocking development, BJP's Harish Khurana questioned why the AAP leader is creating a drama. "Why after 48 hours? he should resign today. In the past too, he has done this. People of Delhi are asking, he can't go to the secretariat, can't sign documents? What is the point then?" Asked if the BJP was ready for early polls, Mr Khurana replied, "We are ready, whether it is today or tomorrow. We will return to power in Delhi after 25 years."

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September 23,2024

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Nagpur: Union Minister Nitin Gadkari on Sunday teased his cabinet colleague Ramdas Athawale over his ability to hold onto his cabinet spot across multiple governments. "It may not be guaranteed that our government will return for a fourth term, but what is definitely guaranteed is that Ramdas Athawale will become a minister," he remarked at an event in Maharashtra's Nagpur.

The playful jibe, with Mr Athawale present on stage, was followed by Mr Gadkari clarifying that he was "just joking."

Mr Athawale, leader of the Republican Party of India (RPI), has served as a minister three times and expressed confidence in continuing his streak if the BJP returns to power.

Mr Athawale on Sunday said his party RPI (A), an ally in the ruling Mahayuti government in Maharashtra, should get to contest on at least 10 to 12 seats in the upcoming assembly elections. Addressing a press conference in Nagpur, Mr Athawale said the RPI-A will contest the election on its party symbol and ask for three to four seats in Vidarbha, including north Nagpur, Umred (Nagpur), Umarkhed in Yavatmal and Washim.

Mr Athawale's party is part of the Mahayuti alliance, comprising the BJP, Shiv Sena led by Chief Minister Eknath Shinde and Ajit Pawar's NCP.

The Union minister said, "The RPI-A has made a list of 18 probable seats, which it will be sharing with the Mahayuti partners in a few days and expects to get at least 10 to 12 seats in the seat-sharing pact." He said the BJP, Shiv Sena and NCP should give four seats each from their quota for his party.

In Palghar earlier this week, Mr Athawale claimed that due to the inclusion of the Ajit Pawar-led NCP in the Mahayuti government, the RPI (A) did not get any ministerial berth in the state despite a promise.

He claimed that the party was promised cabinet positions, chairmanship of two corporations, and roles in district-level committees, but all this could not happen because of Pawar's inclusion.

The elections to 288 assembly seats in Maharashtra are likely to be held in November.

In the current assembly, the BJP is the single largest party with 103 MLAs, followed by Shiv Sena 40, NCP 41, Congress 40, Shiv Sena (UBT) 15, NCP (SP) 13 and others 29. Some seats are vacant. 

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