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A special court here on Tuesday remanded former JD(S) MP <keyword id="20313055" type="General" weightage="100" keywordseo="Prajwal-Revanna" source="keywords">Prajwal Revanna</keyword>, who is facing charges of <keyword id="19907938" type="General" weightage="20" keywordseo="rape" source="keywords">rape</keyword> and <keyword id="20027232" type="General" weightage="20" keywordseo="sexual-abuse" source="keywords">sexual abuse</keyword>, to <keyword id="19911103" type="General" weightage="20" keywordseo="judicial-custody" source="keywords">judicial custody</keyword> till June 24. The 42nd Additional Chief Metropolitan Magistrate court had on June 12 remanded him to the custody of the <keyword id="20085377" type="General" weightage="20" keywordseo="Special-Investigation-Team" source="keywords">Special Investigation Team</keyword> (<keyword id="19925651" type="General" weightage="20" keywordseo="SIT" source="keywords">SIT</keyword>), which is probing the cases against him, till June 18. The 33-year-old had failed in his bid to retain the <keyword id="22095822" type="General" weightage="20" keywordseo="Hassan-parliamentary-constituency" source="keywords">Hassan parliamentary constituency</keyword> in the recent polls. SIT officials arrested Revanna soon after he landed at Bengaluru airport from Germany on May 31. He had left for Germany on April 27, a day after Hassan went to the polls. A '<keyword id="21526463" type="General" weightage="20" keywordseo="Blue-Corner-Notice" source="keywords">Blue Corner Notice</keyword>' seeking information on his whereabouts had earlier been issued by the Interpol, following a request by the SIT via the Central Bureau of Investigation. Revanna was arrested in a case registered against him in Holenarasipura in Hassan district on April 28. He was accused of sexually harassing a 47-year-old former maid. He has been booked in three cases of sexual assault. There are also charges of rape against him. The cases of sexual abuse came to light after pen-drives containing explicit videos allegedly involving Revanna were reportedly circulated in Hassan, ahead of Lok Sabha polls there on April 26. JD(S) suspended him from the party after cases were filed against him.

Bengaluru court remands Prajwal Revanna to judicial custody till June 24

Mumbai (<keyword id="19897316" type="General" weightage="20" keywordseo="maharashtra" source="keywords">Maharashtra</keyword>) [India], March 12 (ANI): The Maharashtra government has constituted a <keyword id="20085377" type="General" weightage="20" keywordseo="special-investigation-team" source="keywords">Special Investigation Team</keyword> (SIT) to investigate the allegations of conspiracy and violence during the <keyword id="19936356" type="General" weightage="20" keywordseo="maratha" source="keywords">Maratha</keyword> agitation stir in Maharashtra. Nashik Commissioner of Police <keyword id="20496135" type="General" weightage="20" keywordseo="sandeep-karnik" source="keywords">Sandeep Karnik</keyword> will be the head of the SIT. The SIT was formed on the instructions of the Maharashtra assembly speaker after the matter of threats issued to Deputy Chief Minister Fadanvis was raised in the Assembly by BJP MLAs. On February 28, speaking in the Maharashtra Legislative Council, CM Eknath Shinde said ""Many leaders have become big on the issue of Martha reservation, <keyword id="20040954" type="General" weightage="20" keywordseo="jarange-patil" source="keywords">Jarange patil</keyword> raised demands for Maratha reservation he didn't had any political background and even I went to him. Keeping all the protocols aside I visited him twice. But now he is making remarks against DCM, our ministers and on the government... why? He is using low level language against the DCM, this language is not of karaykarta it's a political language. There are many other castes leaving in the state but this is an attempt to creat conflict between castes too. We won't tolerate such language against anyone. So let SIT investigate the matter and let the truth come out (doodh ka doodh paka pani hone do)" "We have given reservation to Maratha and it will stand in the court too all the guidelines and norms of court has been studied properly and accordingly. We have given reservation, there is no injustice done on any other community but people are spreading rumours that this reservation won't stand in court why? Who is spreading this?" the Maharastra CM said. Jarange-Patil's Maratha reservation campaign is accused of receiving financial support from 'political associates,' and it is alleged that he made inflammatory remarks during the course of the campaign. The Maharashtra State Government had indicated that if Jarange Patil's agitation for the Maratha Reservation is politically motivated, funded, and intended to cause unrest, a comprehensive SIT inquiry would be conducted to assess its implications on law and order in the state. The demand for an inquiry was raised by BJP MLA Ashish Shelar, after which Mharashtra Legislative Assembly Speaker <keyword id="20924374" type="General" weightage="20" keywordseo="rahul-narvekar" source="keywords">Rahul Narvekar</keyword> ordered a SIT probe. Jarange Patil's appeal reportedly led to a significant road blockade in Beed district, causing inconvenience to the public. The police responded by registering a case against him. Additionally, 25 other cases related to traffic jams have been registered in different locations across the Beed district. (ANI)

Maharashtra govt constitutes SIT to probe violence during Maratha agitation

Earlier, we reported how top private banks have <a href="http://www.businessinsider.in/banks-to-discourage-cash-transactions-fifth-cash-transaction-would-cost-you-rs-150/articleshow/57424378.cms">decided to charge</a> Rs 150 for <keyword id="37885" type="ORGANIZATION" weightage="20" keywordseo="Cash">cash</keyword> deposits and <keyword id="6419867" type="PERSON" weightage="20" keywordseo="withdrawals">withdrawals</keyword> after four free <keyword id="96567" type="COUNTRY" weightage="20" keywordseo="Transactions">transactions</keyword> per month. However, it looks like the government has a different plan to discourage people from holding cash. 
 
As per <a href="http://economictimes.indiatimes.com/news/economy/policy/cap-on-cash-that-can-be-held-by-individuals-and-companies-may-be-round-the-corner/articleshow/57427333.cms">ET</a> reports, the government could be setting a limit on the cash amounts that individuals and companies can hold at a time. This was recommended by the <keyword id="6367920" type="ORGANIZATION" weightage="20" keywordseo="Special-Investigation-Team">Special Investigation Team</keyword>, constituted by the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> in July last year. 
 
SIT had recommended that a limit of Rs 3 lakh be imposed on cash transactions and Rs 15 lakh on cash holdings. While the recommendation regarding cash transactions was implemented, the other one could be <a href="http://www.businessinsider.in/penaltyfor-those-accepting-cash-above-rs-3-lakh-suggests-revenue-secretary/articleshow/56982210.cms">implemented</a> soon. 
 
Also read: <a href="http://www.businessinsider.in/get-ready-for-cash-tax-heres-what-it-is/articleshow/56513567.cms">Get ready for ‘cash tax’. Here’s what it is</a> 
 
As per experts, such a step could help in the war against black money, and combined with GST, this proposal has high chances of being fruitful. 
 
Also read: <a href="http://www.businessinsider.in/pay-1-tcs-if-you-buy-gold-above-rs-2-lakh-from-april-1/articleshow/57234485.cms">Pay 1% TCS if you buy gold above Rs 2 lakh from April 1</a> 
 
(Image source: Quartz)

Government could be putting a cap on how much cash you can have

The <a href="http://www.businessinsider.in/searchresult.cms?query=Special+Investigation+Team">Special Investigation Team (SIT)</a> is leaving no stone unturned to unearth <a href="http://www.businessinsider.in/searchresult.cms?query=black+money">black money</a> and the tax authorities are in a haste to file cases against people having illicit money stashed abroad. Following this, the foreign bank account holders are now under pressure and crowding tax tribunals to either stop persecution or to disclose their names. 
 
However, as per lawyers and chartered accountants, the tax authorities are showing inappropriate haste in filing criminal cases for concealment of income, even when appeals are pending before adjudicatory forums. 
 The name of KK Modi, chairman of Modi group, allegedly appeared in the <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword> list after which he moved the <a href="http://www.businessinsider.in/searchresult.cms?query=ITAT">Income Tax Appellate Tribunal (ITAT)</a> seeking a stay on prosecution proceedings initiated against him. Modi denied any comment and said that he was not aware of any such account in any foreign bank which has around Rs 3 crore deposited. 
 As per an <keyword id="6354751" type="COMPANY" weightage="20" keywordseo="Income-Tax">income tax</keyword> officials aware of the matter, Modi has paid taxes under protest but refused to sign the consent form. The matter was presented in front of the <keyword id="6402350" type="ORGANIZATION" weightage="20" keywordseo="ITAT">ITAT</keyword> last week and another date has been fixed for the hearing. 
 
Meanwhile, in June this year, the tax authorities issued a show-cause notice, under Sections 276 (c) and 276 (d) of IT Act, for initiation of prosecution proceedings for alleged concealment of income. A questionnaire was sent to Modi's office, requesting a formal response, but his spokesman Harmanjit Singh refused to comment. 
 Modi’s advocate in ITAT, senior advocate Ajay Vohra also refused to comment on the matter. The <keyword id="65338" type="ORGANIZATION" weightage="20" keywordseo="Income-Tax-Department">Income Tax Department</keyword>'s representative questioned the jurisdiction of ITAT to hear the petition by Modi seeking a stay, since the matter had to do with a criminal case. 
 
The representative informed the tribunal that "on the Swiss account, Mr Modi's address is there, mobile number is there, we conducted a search, he conceded and paid taxes but they are refusing to own up the transaction, and also refusing to sign the consent form." However, Modi's lawyer denied owning the account. "When the Swiss account doesn't belong to me, I have no locus to sign the consent form." He also informed the tribunal that his appeal has been dismissed by CIT (Appeals). 
 
However, according to official sources, the ITD had initiated prosecution proceedings against Modi, even before the appeal could be disposed of by CIT (Appeals). 
 
Similarly, in cases of Sanjiv Gupta, Pradip Burman, Rear Admiral PN Aggarwal, all foreign account holders, appeals were pending before CIT (appeals), but criminal proceedings were initiated against them. This issue also figured in Bishwanath Garodia's case, another HSBC account holder, who has got relief from Calcutta high court. 
 
The court order, reviewed by Economic Times says, no steps can be taken against Garodia, "till the appeal pending before the Commissioner (appeals) is disposed of." 
 
On May 7, this year CJM Alipore had issued summons against Bagrodia, on a complaint filed under section 276 (c), by tax authorities. Garodia had claimed that the "issue regarding the alleged concealment of income by the writ petitioner by maintaining an account with HSBC, Geneva, Switzerland is sub judice before the Commissioner (Appeals) Central -21, Kolkata." 
 The high court order also mentioned about an SC observation in Commissioner of Income Tax vs Bhupen Champak Lal Dalal case, wherein the apex court affirmed the order of the <keyword id="48485" type="ORGANIZATION" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword>, staying criminal proceedings. It said, "when ultimately the result to come out of the proceedings before the appellate authorities would have a definite bearing on the cases alleged against the respondents, we find that the high court order is justified in granting the interim order it did." 
 
Image: thinkstock

Black Money: Foreign bank account holders accuse tax authorities of haste in filing complaints

The <keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) has asked all the banks and financial institutions to provide information sought by the <keyword id="6367920" type="ORGANIZATION" weightage="100" keywordseo="Special-Investigation-Team">special investigation team</keyword> (SIT), set up to look into the issue of <keyword id="6356023" type="UNKNOWN" weightage="100" keywordseo="Black-Money">black money</keyword>. 
 
“All the banks and financial institutions are advised to ensure that information/documents required by the SIT are made available as and when required," the RBI said. 
 
The SIT, under the chairmanship of Justice (retired) MB Shah, was constituted by the Narendra Modi government on its first day in office. The SIT has jurisdiction in all cases, be it ongoing investigations or those waiting to be initiated or cases which have been completed. 
 
Meanwhile, Finance Minister Arun Jaitley said the government would write to the authorities in Switzerland, seeking details regarding Indians with unaccounted money in Swiss banks. 
 
According to the latest data released by the Swiss National Bank, Switzerland's central bank, Indian money in various Swiss banks increased 43% in 2013 to almost Rs 14,000 crore. Switzerland said it is looking forward to working together with India’s new government in its fight against black money.

You Searched For "special investigation team" and got 5 results

Bengaluru court remands Prajwal Revanna to judicial custody till June 24

PTI

Maharashtra govt constitutes SIT to probe violence during Maratha agitation

ANI

Government could be putting a cap on how much cash you can have

BI India Bureau

Black Money: Foreign bank account holders accuse tax authorities of haste in filing complaints

BI India Bureau

Black Money: RBI Asks Banks, FIs To Provide Information To SIT

BI India Bureau

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