BLACK MONEY IS A CURSE TO OUR NATION’S DEVELOPMENT THE HON’BLE SUPREME COURT OF INDIA IN CASE OF R.K. Garg And Ors. vs Union Of Page | 1 India (1981) 4 SCC 675 Bench: Y Chandrachud‚ A Gupta‚ A Sen‚ P Bhagwati‚ S M Ali. FACTS OF THE CASE:- These writ petitions raise a common question of law relating to the constitutional validity of the Special Bearer Bonds (Immunities and Exemptions) Ordinance‚ 1981 and the Special Bearer Bonds (Immunities and Exemptions) Act 1981. The principal ground on which the
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Indian black money From Wikipedia‚ the free encyclopedia In India‚ Black money refers to funds earned on the black market‚ on which income and other taxes has not been paid. The total amount of black money deposited in foreign banks by Indians is unknown. Some reports claim a total exceeding US$1.4 trillion are stashed in Switzerland.[1] Other reports‚ including those reported by Swiss Bankers Association and the Government of Switzerland‚ claim that these reports are false and fabricated‚ and
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BLACK MONEY WHITE PAPER M A Y 2 0 1 2 MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES NEW DELHI |ÉhÉ´É àÉÖJÉVÉÉÒÇ PRANAB MUKHERJEE ÉÊ´ÉkÉ àÉÆjÉÉÒ‚ £ÉÉ®iÉ FINANCE MINISTER INDIA Foreword In the past year the public discourse on the issue of corruption and black money has come in the forefront with the active participation of the civil society and our Parliamentary institutions. Two issues have been highlighted in this debate. First‚ several estimates have
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Grey‚ black and white money M S Siddiqui The Finance Minister has partly revised his original proposal‚ made at the time of unfurling the national budget for fiscal 2009-10 to the Jatiyo Sangshad‚ for whitening of black money or undisclosed income. Now the same‚ under the Finance Bill 2009 that was passed by parliament on June 29 last‚ can be done only in fiscal 2009-2010 (in place of the earlier proposal for a three-year time-period)
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The Black Death was a name given to a deadly pandemic that spread from China to Mongolia‚ Northern India‚ and the Middle East during the 1300s. It moved with astonishing rapidity‚ advancing about two miles per day‚ summer‚ or winter. It continued to erupt in local epidemics from the next 300 years; some localities could expect a renewed outbreak between 1661 and 1669‚ although there were sporadic outbreaks in Poland and Russia until the end of the eighteenth century. In 2011‚ medical historians have
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On Black Tuesday‚ October 29‚ 1929‚ the stock market crashed‚ triggering the Great Depression‚ the worst economic collapse in the history of the modern industrial world. Black Friday‚ Black Friday is the day celebrated after Thanksgiving‚ originally known for the day of the stock market catastrophe. Closing stocks that morning on November 1st for a few days‚ opening again on Monday‚ November 4th for limited hours until stocks dropped again. Before hand overall starting on October 29‚ 1929 known as
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1. What is black money? Black money is essentially the currency used in ‘black economy’. Black‚ shadow‚ underground‚ unobserved‚ unofficial‚ subterranean‚ unrecorded‚ informal‚ irregular‚ second‚ twilight‚ parallel – are all the synonyms used for the ‘shadow economy’. The shadow economy basically consists of legal and illegal activities outside the reach of the government. Smith (1985‚ p.18) provides a very broad definition of the shadow economy as ‘market based production of goods and services
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NAME COURSE PROFESSOR DATE The Causes and Effects of The Black Death The Bubonic Plague or the Black Death has been in the history books since the medieval times. This deadly disease has claimed nearly 1.5 million lives in Europe (Gottfried). The Black Death hit Europe in October of 1347 and quickly spread through most of Europe by the end of 1349 and continued on to Scandinavia and Russia in the 1350s. Not only did the plague effect the European population by killing one-third to two-thirds
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com/locate/econbase Efficient black markets? Carl Davidson a‚b ‚ Lawrence Martin a ‚ John Douglas Wilson a‚⁎ a Department of Economics‚ Marshall-Adams Hall‚ Michigan State University‚ East Lansing‚ MI 48824‚ United States b GEP‚ University of Nottingham‚ United Kingdom Received 17 May 2005; received in revised form 9 October 2006; accepted 23 October 2006 Available online 3 February 2007 Abstract This paper investigates analytically the welfare effects of black-market activities that firms
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During the 13th century‚ three diseases collectively known as the Black Plague ran rampant throughout the civilized world of the time‚ including Asia‚ the Middle East‚ Africa‚ and Europe. The plague had a remarkably high mortality rate‚ striking fear in the hearts of all who heard of it. Political systems crumbled in the face of this natural disaster. In this time of government turmoil‚ people turned to religion for hope. This united the public‚ and even if the religion did not serve to provide hope
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