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Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared
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the CLAT exam syllabus. Information about Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam.
Find important definitions, questions, meanings, examples, exercises and tests below for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT.
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Here you can find the meaning of Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Eliminating Black Money was one of the objectives of demonetization as stated in the Government of India's 'Press Release' dated 8th November, 2016 in this regard.Action against black money stashed abroad is an on-going process. Such actions include putting in place appropriate legislative and administrative frameworks and processes along-with effective enforcement actions.Recent major steps to bring back black money stashed abroad include -I. Constitution of the Special Investigation Team (SIT) on Black MoneyII. Enactment of a comprehensive law - 'The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015' to specifically deal with black money stashed away abroadIII. Renegotiation of tax treaties to bring the Article on Exchange of Information to International Standards and expanding India's treaty network by signing tax treaties with many jurisdictions to facilitate the exchange of information and to bring transparencyIV. Enabling attachment and confiscation of property equivalent in value held within the country where the property/proceeds of crime is taken or held outside the country by amending the Prevention of Money-laundering Act, 2002 through the Finance Act, 2015.V. The Benami prohibition law which remained inoperative for last 28 years was made operational through a comprehensive amendment with effect from November, 2016.VI. Relevant laws and rules have been streamlined & tightened, plugging the loopholes and strengthening the penal provisions.VII. Crackdown against thousands of shell companies engaged in nefarious activities was effected through enforcement actions (searches, surveys, arrests, prosecutions).Thus, there had been co-coordination and monitoring of the actions taken by departments concerned with the objective of eliminating the conduits of black money generation and application.Q. If shell companies are found to be engaged in financial crimes then crackdown is effected through enforcement actions. Dhawan incorporated multiple companies having no assets. By the use of web of shell companies and layering of proceeds of crime, he used to launder money.Enforcement Authority identified these shell companies. Based on the essence of the passage and given principle of law, decide the validity of crackdown?a)Crackdown is valid since Dhawan purchased property out of unexplained income. It is a clear cut case of money laundering and corrupt practice.b)Crackdown is not valid since Dhawan has caused loss to public exchequer.c)Crackdown is not valid since Dhawan was not afforded the fair hearing thus Enforcement Authority has violated the Principle of Natural Justice.d)Crackdown is valid since Enforcement Authority established the crime of money laundering through the presence of shell companies.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CLAT tests.