CBI officials and legal experts fear that the government can use the rejection of report as an excuse to refuse permission to prosecute serving bureaucrats like the governor did for former chief minister Ashok Chavan.
The spurt in smuggling activities is a result of the widening difference in the yellow metal’s price between the domestic market and Dubai. The price gap has gone up to Rs. 5 lakh a kg in the past few months from being Rs. 2.5 lakh a kg in June, and only Rs. 1 lakh before that.
Sachin Tendulkar failing to score big in the Kolkata Test meant a loss of around Rs 400 crore for bookies, but that has not deterred them from taking big bets on his 200th and final Test to be played in Mumbai from November 14-18. Full Coverage: Sachin's last bow
The ‘diamonds’ studded in Miss Asia Pacific 2013 Srishti Rana’s crown, which Customs was quick to confiscate citing unpaid duty for the gems, turned out to be pieces of glass.
Around Rs. 1,000 crore is expected to ride on Sachin Tendulkar’s scores in his last two Tests before retirement, with bookies planning to cash in on the opportunity.
The government’s attempts to restrict gold imports appear to have activated smuggling syndicates in the country, with the Mumbai customs making yet another seizure of a 1-kg gold bar on Tuesday.
The service tax department has detected alleged tax evasion by actor Vivek Oberoi to the tune of Rs40 lakh and has issued summons to him. The authorities found the actor had not registered himself with the department. Manish Pachouly reports.
Experts say that by November – spurred by increased demand for the festive and wedding seasons - gold is expected to breach the Rs 40,000 psychological barrier.
A shining new necklace for the wife, your daughter’s wedding gift or a coin for investment’s sake – if gold is on your mind this Diwali and wedding season, get ready to spend as much as Rs 40,000 per 10 gm.
You stare into the brilliance of your just-purchased diamond and quietly laud nature's handiwork. Little knowing that scientists in a Chinese or Swedish lab deserve your pat, or that you deserve a refund from the guy who sold it as a natural diamond. Manish Pachouly reports.
With the extended deadline to file income tax (I-T) returns ending on Monday, the department found that around 11.6 lakh people had filed returns online on July 31, which resulted in overload on the website.
Unable to handle the load generated after it made online filing of returns mandatory for those earning over Rs5 lakh per annum has forced the Central Board of Direct Taxes (CBDT) to extend the last date of filing tax returns to August 5.
Rattled by frequent seizures of gold at the airport, smuggling syndicates unsuccessfully tried a unique modus operandi, replacing four of the eight lead plates in the rechargeable battery of an emergency light with gold.
In one of the biggest seizures, the Directorate of Revenue Intelligence (DRI) on Monday seized 133.88 metric tonnes (1.33 lakh kg) of red sanders worth Rs55 crore while it was being smuggled to Dubai from Nhava Sheva port.
In a major action, the Directorate General of Central Excise Intelligence (DGCEI) in Mumbai has booked 1,800 debt recovery agencies working for a prominent private bank for service tax evasion to the tune of over Rs200 crore.
It has suddenly become much more profitable to smuggle gold, and the underworld is very interested. Smuggling syndicates have stepped up the action, often employing passengers who carry the gold for them. Manish Pachouly
and Faizan Haider
A dispute among a few angadias led to passing of the fake alert to the National Investigation Agency (NIA) about the ‘smuggling’ of counterfeit currency in four tempos.
After banks stopped selling gold coins and import duty on it was recently hiked from 6 to 8%, there has been a spurt in demand for the metal in the illegal market.
The I-T raids on bullion dealer Prithviraj Kothari have opened can of worms in the city’s bullion market. At least 20 other dealers, jewellers and brokers in Zaveri Bazar, Opera House and Dagina Bazar areas are now under income tax (I-T) department’s scanner for dealing in unaccounted for cash.
In what may spell more trouble for the Sahara Group and its chief Subrata Roy, the Enforcement Directorate (ED) in Mumbai on Thursday registered cases under Prevention of Money Laundering Act (PMLA) against two firms.