The Gujarat Home Minister asked, "He received the cash through Angadia. From where has this money come? This question should be asked from leaders of AAP."
The CBDT said the group engaged in the business of chit fund was running an unauthorised business and all the investments and payouts of more than Rs 400 crore in the last few years were done entirely in cash.
"The searches, so far, have resulted in the detection of undisclosed income of over Rs 300 cr and unaccounted cash of Rs 9 cr has been seized," CBDT said in a statement.
Centre's approach under Prime Minister Narendra Modi is of zero tolerance to corruption and black money and the country has a sound legal framework backed by a strong institutional mechanism to deal with corruption, said Union Minister for Law and Justice Kiren Rijiju on Aug 06.
It, however said that Swiss Authorities have been requested to provide the relevant facts along with their view on possible reasons for increase or decrease in deposits so that facts could be presented in correct perspective.
The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years.
The Income Tax Department has detected an alleged cash-for-seat scam running in some Karnataka-based medical colleges, as the CBDT said over Rs 400 crore blackmoney has been generated in the name of capitation fee by these institutions.
Over 60 per cent people believe that the Narendra Modi-led government has managed to curb the flow of black money in the market, which got reflected in the Union Budget 2021-22 presented by Finance Minister Nirmala Sitharaman in the Parliament on Monday, as per the IANS C-Voter Budget Insta-Poll.
The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of faceless income tax appeals.
The CBI has booked 51 entities for allegedly remitting Rs 1,038 crore of black money to Hong Kong during 2014-15, officials said on Monday.
Kalki Bhagwan's responds over Rs 500 cr black money, says we are not going anywhere
In raids on a Tamil Nadu-based business group running coaching institutes for competitive examinations, the Income Tax (I-T) Department has seized Rs 30 crore unaccounted cash.
India's fight against suspected black money stashed in Swiss banks has reached a village lane in Andheri area of Mumbai, where an obscure-sounding company, Motech Software Pvt Ltd, was set up nearly two decades ago that allegedly went on to deposit millions of dollars in Switzerland through a maze of offshore entities.
India's fight against suspected black money stashed abroad will get a major boost this September in the form of first set of detailed financial information about all Indians having Swiss bank accounts, including those closed since last year.
Money parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by nearly 6 per cent in 2018 to 955 million Swiss francs (about Rs 6,757 crore) to hit its second-lowest level in over two decades, Swiss National Bank data showed Thursday.
Urging the Centre to take strict action against economic fugitives, Rajya Sabha MP Sanjay Singh on Tuesday said mere talking was not enough and that the government can not run away from its responsibility to check black money.
In a written reply to a question in the Lok Sabha, Nirmala Sitharaman said prosecution has been launched in 68 cases.
Unaccounted wealth outside the country held by Indians was estimated in the range of USD 216.48 billion to USD 490 billion over various periods between 1980 and 2010, according to three separate studies conducted by three premier institutes -- NIPFP, NCAER and NIFM.
Supreme Court-appointed Special Investigation Team (SIT) vice chairman Justice Arijit Pasayat Tuesday suggested appropriate amendments in existing tax laws to curb the use of money power to win elections.
The Centre on Monday moved the Supreme Court challenging a Delhi High Court order, which has ruled that the black money law can't have a retrospective effect, that is, it cannot be applied prior to April 1, 2016, as fixed by Parliament.
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