By: MEHAL JAIN 10 April 2019 3:56 PM GMT Attorney General K. K. Venugopal on Wednesday sought to defend the Electoral Bonds as a means of donations to political parties, advancing that they serve in eradicating black money from political funding, and to prevent the donors from being victimized. "The argument so far has been that the scheme and the series of amendments (in the Income Tax, the Representation of People and the Companies Acts) would result in the injection of a mind-boggling amount of black money from criminal sources, the violation of the PMLA, etc, but these are simple cash contributions with an aspect that compels honest payments in cash." "The actual objective is to remove any impediment to payments which is posed by disclosing their source and to which political party they are tendered. If you back the wrong horse, then tomorrow an industrialist who is bidding for a dam will get victimized if the opposite party came to power. At least he would believe this, … [Read more...] about Electoral Bonds Will Eradicate Black money From Political Funding And Prevent Donors Being Victimized:AG Tells SC
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NEW DELHI: Defending electoral bonds , finance minister Arun Jaitley on Sunday said they are aimed at checking the use of black money for funding elections, as was sought to be achieved through electoral trusts proposed during the UPA-II regime. Highlighting the problem of black money in elections, Jaitley said as per reports, Rs 1,500 crore has been seized as a result of initiatives taken by the Election Commission and revenue authorities. "Surprisingly the attack is against the bonds and not the electoral trusts because the earlier was brought by the NDA and the latter was by UPA. The underlying principle of both is the same," Jaitley said in his blog titled 'The Choice of Political Funding - Cheque, Electoral Bonds or Blackmoney from Contractors and middlemen'. He further said in the absence of the electoral bonds, the donors will have no option but to donate only by cash after siphoning monies from their businesses. "The recent Election Commission and I-T raids have shown … [Read more...] about Electoral bonds aimed at checking use of black money in elections: Jaitley
By: Live Law News Network 18 Feb 2019 1:22 PM GMT The Calcutta High Court has held prosecuting a person under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act) during the pendency of penalty proceedings under the Income Tax Act 1961 will not amount to double jeopardy. The Court was considering a writ petition challenging the sanction granted to prosecute the petitioner under the Sections 50 and 51 of the Black Money Act for concealing foreign assets. The petitioner contended that penalty proceedings under Sections 271(1)(b) and 271(1)(c) of the Income Tax Act were pending against him, in furtherance of notice under Section 153A of the Act, which led to discovery of his foreign assets. The Black Money Act came into effect from April 1, 2016, and it cannot be given retrospective effect, he contended. His further contention was that as per Section 71 of the Black Money Act, it will not apply if notice proceedings under … [Read more...] about Prosecution Under Black Money Act During Pendency Of Penalty Proceedings Under Income Tax Act Not Double Jeopardy : Calcutta HC
Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Log In Today’s Paper Politics | Europe Flags American Territories in ‘Dirty Money’ List, Deepening Rift With U.S. Supported by ByJack Ewing and Alan Rappeport Feb. 13, 2019 FRANKFURT — The United States assailed the European Union on Wednesday for adding American territories to its “dirty money” list, opening a new rift in a relationship that has grown increasingly fractious amid disputes over trade and Iran sanctions. Four United States territories, including Puerto Rico, were added to a money laundering blacklist that will require European banks to apply greater scrutiny to transactions in those regions. That prompted an angry rebuke from the Trump administration, which criticized the methodology used by the bloc to add those regions and said American officials were not consulted ahead of their … [Read more...] about Europe Flags American Territories in ‘Dirty Money’ List, Deepening Rift With U.S.
Share Tweet Plus One Pin It Email Print By: akanksha jain November 22, 2018 2:18 pm Change Font Size Even as the BJP claims to have given a corruption-free government, the Prime Minister’s Office (PMO) has, in response to a query on all complaints submitted to the Prime Minister on corruption charges against serving Central ministers, taken shelter under Section 7(9) of the RTI Act. Section 7(9) provides that, “An information shall ordinarily be provided in the form in which it is sought unless it would disproportionately divert the resources of the public authority or would be detrimental to the safety or preservation of the record in question”. In October, the PMO was directed by the Central Information Commissioner (CIC) to disclose corruption complaints submitted to the Prime Minister against serving Central ministers on charges of corruption from June 1, 2014 to August 5, 2017, along with action taken on these complaints besides the quantum of … [Read more...] about PMO Says Collating Info On Corruption Complaints Against Union Ministers ‘Cumbersome Exercise’, Revealing Info On Black Money Will ‘Impede’ Probe