I-T to track investments made by Indians in other countries; Dubai is first target

coastaldigest.com news network
October 2, 2018

Mangaluru, Oct 2: The Intelligence and Criminal Investigation wing of The Income Tax will now track investments made by Indians in foreign countries too.

D K Mishra, Director (Administration) of the wing, who inaugurating the new office of the wing in the city on Monday, said that the Income Tax Department would launch a pilot project from this fiscal to track investments by Indians in Dubai.

“Dubai is our first target... A good number of people from Coastal Karnataka and Kerala invest in Dubai. We will study the investments made in Dubai. If it reveals significant results, the wing will extend the study to investments in other regions,” he said.

He also pointed out that Coastal Karnataka was the second most potential region after Bengaluru and enjoyed a high position in terms of the charter of revenue for the department.

Mishra said the wing was also looking at cases of evasion of tax by bogus investments. The wing was going ahead with prosecution in many cases of non compliance of income tax laws.

Terming the Intelligence and Criminal Investigation wing as the intelligence hub of the department, Mishra said with limited staff at their disposal, they were keeping a close watch on high value transactions including those made in real estate, mutual funds and in bank deposits. They are collecting information indirectly from offices of sub-registrars and other sources. The wing was collecting information of investments made by Indians abroad. It was looking at different avenues of tax evasion namely premature encashment of LIC policies. Such information was being collated, assimilated and verified before the process is initiated against instances of tax evasion, he said.

Of the 3.5 lakh tax assessments that were scrutinised last year, 60,000 were at the instance of the wing. Information given by the wing in 13,000 cases led to disclosure of about Rs. 20,000 crore of undisclosed income. Mr. Mishra said the wing was spreading its wings and expanding its reach by adapting technology. The staff of the wing was getting better infrastructure and facilities, he said.

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News Network
October 7,2024

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Mangaluru, Oct 7: In a heartbreaking turn of events, the search for Mumtaz Ali, chairman of Misbah Group of Educational Institutions, ended with the discovery of his mortal remains in the Phalguni river near Kulur. The somber discovery came after an exhaustive search, leaving a community in shock and sorrow.

He is the younger brother of former MLA Mohuiddin Bawa and former MLC B M Farookh. 

The incident has taken a deeply distressing turn with the filing of an FIR against six individuals, including a woman, who are accused of pushing Ali to a tragic end. 

The accused allegedly blackmailed Ali, fabricating a story about his involvement in an illicit relationship with the woman. Reports suggest that they extorted Rs 50 lakh from Ali and were unrelenting, demanding an additional Rs 50 lakh from him, casting a shadow over his final days.

The complaint, lodged by Ali’s grieving brother, accuses these individuals of driving him to despair through relentless blackmail and false accusations, ultimately leading him to take the tragic step.

In the early hours of Sunday, Ali left his home at 3 am, heading towards Suratkal, perhaps seeking some solace. A minor accident occurred when his car collided with a private bus near MCF. Despite the mishap, he offered a heartfelt apology to the bus driver and conductor—a gesture that now echoes with the pain of his unspoken struggles. After the collision, Ali made a U-turn near Panambur circle, driving back towards Kulur bridge, where his journey came to a sorrowful end.

Ali’s last moments hold an even deeper sadness, as he left behind a voice message in Byari, naming an individual who had been tormenting him mentally. Sent to his daughter and a close friend, the message revealed the unbearable burden he was carrying, hinting at his final decision to end his suffering.

This tragic loss has left the community and his loved ones grappling with unanswered questions and a profound sense of grief. As the investigation unfolds, the memory of Mumtaz Ali lingers, a reminder of the silent battles that too often go unseen.

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News Network
October 3,2024

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Bengaluru: The Karnataka Food Safety and Quality Department has issued an urgent warning following the discovery of potentially cancer-causing chemicals in cakes sold by certain bakeries across the state.

Recent tests conducted by the department revealed that some cake samples, particularly those with vibrant colors, contain harmful synthetic coloring agents such as Allura Red, a substance known to pose health risks. The findings have raised concerns about the use of artificial colors in bakery products, especially given their potential link to cancer and other serious health conditions.

"We routinely test various food products, and this time, our officials noticed unusually dark-colored cakes on the market," said Srinivas K, Commissioner of Food Safety for Karnataka. "Upon testing, we found that a few cakes contained Allura Red, a synthetic dye associated with health risks."

The use of artificial colors, especially in popular cakes like red velvet and pineapple varieties, is widespread as it attracts customers, particularly children. However, many bakers prefer using natural, safer alternatives, while some opt for synthetic dyes to enhance the cake's visual appeal.

"Most bakeries use permissible, natural colors that are safe for consumption. Unfortunately, a few are resorting to synthetic dyes just to make their cakes more attractive," said a bakery owner from Electronic City, speaking anonymously.

Medical experts are warning that consuming synthetic colors can lead to numerous health issues, including asthma and allergic reactions.

"Some of these artificial dyes are carcinogenic, and prolonged exposure could have serious consequences, especially for children and young adults," cautioned Dr. Vandana G, a private medical practitioner.

While the Food Safety and Standards Authority of India (FSSAI) confirms that only a limited number of samples tested positive for harmful colors, legal action is being taken against the violators.

"There is no need for widespread panic or halting production. We are closely monitoring the situation, and only a few bakeries were found to be non-compliant. Rest assured, appropriate legal measures are underway," assured an FSSAI official. 

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News Network
October 4,2024

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Mysuru: Chairman of JD(S) core committee and Chamundeshwari constituency MLA G T Devegowda on Thursday expressed his solidarity with Chief Minister Siddaramaiah saying the latter need not resign, while lambasting leaders of his own party and alliance partner BJP, including Union Minister H D Kumaraswamy.

In his speech during Mysuru Dasara inauguration he said that if persons against whom FIR is registered have to resign, many leaders from all the three parties, including Opposition Leader R Ashoka, will have to resign.

“All are sitting in glass houses... Since I know Siddaramaiah well, I am talking about him. At a time when mines and real estate are ruling politics, Siddaramaiah has survived in politics. He has never done any favour,” Devegowda said.

He added, “Allegations against Siddaramaiah are unexpected and accidental. If the Governor and Chief Justice order an investigation, it does not mean that he should resign."

He continued, asking, "Have they told Siddaramaiah to resign or have they asked to imprison him? When a person becomes a Central minister, he or she should realise their dignity and responsibility. Instead of recognising the good work done by Siddaramaiah, they ask him to resign. Will Kumarswamy (facing an FIR) resign? Should Siddaramaiah, who has become CM with a support of 135 MLAs, resign?"

"Opposition leaders are not remembering the good work of earlier CMs Kengal Hanumanthaiah, Veerendra Patil, Ramakrishna Hegde, H D Deve Gowda or S M Krishna. Karnataka is a model state. It is a bad trend to topple an elected government which is doing good work,” he further said.

Devegowda added, “Siddaramaiah is Goddess Chamundeshwari’s ‘Varaputra’ and hence has her blessings during tough times. He won the election in Chamundeshwari Assembly constituency, when the BJP-JD(S) government was in power in 2006. With the blessings of the Goddess, he has held varied positions right from becoming an MLA for the first time in 1983. He presented 15 budgets and has become CM for a second time. He took H C Mahadevappa, a Dalit leader to the state level. Siddaramaiah has the support of Deputy CM D K Shivakumar as ‘Jodeththu’. Blessings of the beneficiaries of guarantee schemes are with him (Siddaramaiah).” 

Siddaramaiah said, “Devegowda was a MUDA member. He knows the truth. Hence, he is saying this. His words have filled strength in me. ‘Satyameva Jayate’, Truth will always triumph.” 

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