In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
The apex court on May 1 directed the Centre to handover within three days all documents and information collected by it in its probe in the cases of alleged stashing of black money in LST bank in Liechtenstein, Germany, to Jethmalani and others who raised the issue before it.
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After resisting for more than three years, the Centre on Tuesday revealed names of 18 persons in the Supreme Court who allegedly stashed black money with the LST bank in Liechtenstein and against whom prosecution have been launched by the Income Tax department.
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The Centre on Friday submitted before the Supreme Court that all the information on black money received from foreign countries, with which India has double taxation avoidance agreement, cannot be disclosed.
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Zlatan Ibrahimovic is racing to be fit for Sweden's Euro 2016 qualifiers against Russia and Liechtenstein in Stockholm, but won't risk playing with pain-killing injections.
England's Harry Kane scored on his debut less than two minutes after coming on as they brushed Lithuania aside 4-0 at Wembley on Friday.
Since 2009, the Department has publicly charged 73 account holders and 35 professionals with violations arising from their offshore banking activities, and 72 individuals have plead guilty or were convicted at trial.
The Supreme Court today decided to hear on February 19 an application seeking speedy hearing of a plea by jurist Ram Jethmalani accusing the Centre of not implementing its directions on the issue of black money allegedly stashed in banks abroad.
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Noted jurist Ram Jethmalani on Tuesday accused in the Supreme Court the National Democratic Alliance government and the previous United Progressive Alliance dispensation of failure to bring back black money stashed abroad and criticised leaders including Prime Minister Narendra Modi, Bharatiya Janata Party President Amit Shah and Finance Minister Arun Jaitley on the issue.
While posting the matter on April 29, the bench asked the Solicitor General to take proper instruction from the Revenue Secretary and also respond "What prevented them (Centre) to comply with the directions."
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
When Michel Platini revamped the European Championship, turning the finals from a tough, lean 16-team tournament in 2012 into a flabby, 'roll up, anybody's welcome' 24-side affair in 2016, it was not surprising he ran into a blizzard of rebukes.
Activist-turned-politician Arvind Kejriwal's allegations about some Indians having accounts in tax havens abroad gave the Bharatiya Janata Party an opportunity to flag the issue of black money again as the party asked the government to make public all details of such individuals and entities.
UEFA will share 100 million euros among the clubs who released players for the Euro 2012 soccer finals and qualifying competition, the European Clubs Association (ECA) said on Tuesday.
A major criticism of the new law is that it can become an instrument of abuse as it confers the tax enforcement authorities with strong discretionary powers, says Paranjoy Guha Thakurta.
Plans to build India's biggest indigenous nuclear power plant have failed to impress villagers in Haryana's Fatehabad district, who fear a Fukushima-type disaster. The shoddy way in which the government agencies have handled the issue has not helped matters either. Gopal Krishna reports.
Wayne Rooney struck with a 74th-minute free kick to give England a 1-0 win over 10-man Estonia in a Euro 2016 Group E qualifier on Sunday and move to within six goals of Bobby Charlton's record tally of 49.
Barcelona defender Gerard Pique will miss this week's European Super Cup clash with Porto due to a calf injury, the Champions League holders said on Tuesday.
Some persons with accounts in a Swiss bank have paid taxes amounting to about Rs 180 crore so far, Finance Minister Pranab Mukherjee has said in Parliament. He did not disclose any name.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
The Centre on Friday declined before the Supreme Court to make public names of the people who have stashed black money in foreign banks, saying it is not possible to disclose information received from foreign governments under Double Taxation Avoidance Agreement.
India will push hard for an early implementation of comprehensive reform of the United Nations Security Council and expansion in its membership when inter-governmental negotiations on the issue begin in New York on Thursday.
Tehelka magazine said two years ago the German government had passed on the names and bank account details of 18 Indians who had invested their wealth in the LGT bank in Liechtenstein, a well-known tax haven.
Janata Party President Subramanian Swamy on Monday met Central Bureau of Investigation director and demanded registration of cases against Indians who have allegedly stashed away money in foreign banks.
ED has initiated action against these account holders in Mumbai, Delhi and other cities.
The department is identifying tax evasion cases from the information it has got from various countries under the normal exchange route.
The court's remarks came after the government contended that it has got the information from the German government pertaining to the bank accounts of Indian citizens in Liechtenstein Bank there.
First-timers Bosnia joined holders Spain, England and Russia in grabbing Europe's remaining automatic spots for the 2014 World Cup finals on Tuesday as the last round of group matches ended in joy, despair and shattered nerves.
England begin life without stalwart John Terry on Friday but San Marino are the perfect opponents for his yet unknown replacement to ease his way into the centre back's boots with all the goals expected at the other end.
The Supreme Court on Wednesday issued notices to the Centre and the Reserve Bank of India on a petition seeking probe into the alleged money laundering by the trustees of Mumbai's Lilawati Hospital.
Holders Spain stretched their winning run in qualifiers to 23 as they began the journey to the 2014 World Cup with a 1-0 victory in Georgia on Tuesday but along with Germany and Italy they struggled to take the points.
England, Germany, France and the Netherlands all started the long road to the 2014 World Cup finals in Brazil with victories but Italy stumbled out of the blocks when the European qualifying campaign began on Friday.
The assurance came at a bilateral meeting between Mukherjee and German Finance Minister Wolfgang Schaeuble on the sidelines of the meeting of the G-20 Finance Ministers and Central Bank Governors that concluded in Paris on Saturday.
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
The government on Saturday said it has served notices to 17 persons who allegedly kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Finance Minister Pranab Mukherjee, came a day after some media reports revealed names of 15 entities, including individuals and trusts, who allegedly kept illicit money in LGT Bank of Liechtenstein, an European country neighbouring Switzerland.
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