Pandora Papers: Will Rhetoric Meet Same Fate & Persuasion Likely To Fade Away In Light Of Application Of Strict Test Of Evidence
- Blog|News|Income Tax|
- < 1 minute
- By Taxmann
- |
- Last Updated on 18 November, 2021
Latest from Taxmann
Aseem Chawla – [2021] 132 taxmann.com 135 (Article)
The total amount of black money being held in foreign banks by Indians is unknown. In February 2012, Indian Central Bureau of Investigation (‘CBI’) had remarked that Indians have allegedly parked US $500 billion of illegal funds in foreign tax havens, more than any other country.
In March 2012, the Government of India then clarified before the Parliament that the CBI Director’s statement on $500 billion of illegal money was an estimate based on a statement made before the Hon’ble Supreme Court in July 2011. In March 2018, it was highlighted that the amount of India black money currently present in Swiss and other offshore banks is estimated to be $300 lakh crores which approximates to the tune of about US $1.5 Trillion.
Recently, Pandora Papers released by International Consortium of Investigative Journalists (‘ICIJ’), the same group which was behind the release of Panama Papers in 2016, the release centers around approx. 2.94 terabytes of data, originating from 14 service providers which offer services in at least 38 jurisdictions, leaked, and is shared with media partners around the world, and the papers comprised a variety of formats such as documents, images, emails, spreadsheets, and more.
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
