The Special Investigating Team (SIT), set up by the Supreme Court to bring back the black money stashed in foreign banks, was not privy to the details of three Indian account holders, whose names were disclosed by the Centre today.
"SIT got the information only when media reported. The details which the government has obtained about the account holders have not been shared with the panel," a highly placed source told dna.
The Supreme Court in its order, while setting up the panel, had asked the Centre to provide details to the SIT so that it can draw the modalities to bring back the black money.
In its affidavit in the apex court on Monday, the government said that as per the court's July 2011 order, "a complete list of cases where information has been obtained from German and Fresnch governments, along with up-dated status of action taken by the Central Board of Direct Taxes (CBDT) to SIT on June 27, 2014.
" In a meeting with the chairman and vice chairman on August 5, the panel was briefed on the status of the cases in detail covering the main action areas, including the background and nature of information received under the relevant tax treaties, non sharing of information by Swiss authorities constraints faced in taking further action including asessment, penalty prosecution and alternative methods to obtain account details," the government also said claiming that SIT had given some directions which were complied with.
Some senior government officers, inclding Revenue Secretary and CBDT Chairman, who are part of the SIT, have met recently the Swiss authorities to obtain detail about the illegal money parked in various banks.
Switzerland has been refusing to share details on names obtained by Indian authorities through other countries, namely France and Germany, due to legal issues involved in it.
SIT, chaired by retired Justice M B Shah and Vice Chairman Arijit Passayat, held a meeting here with these officials earlier this month before their departure to Switzerland.
The SIT in its next meeting, to be held this week, will file its report before the Supreme Court by end of this month.
The Supreme Court will take up the matter on November 11.
The panel is also examining if mining industries, chit fund companies and real estate firms which generate huge illegal income by manipulating account books to facilitate fraudulent transfers of money and stack it away as black money. ?
The SIT was constituted in May and started work on June 3. It is assisted by heads of the Intelligence Bureau (IB), Enforcement Directorate (ED), Central Bureau of Investigation (CBI), Central Board of Direct Taxes (CBDT), Narcotics Control Bureau, Directorate of Revenue Intelligence, Financial Intelligence Unit and the R&AW, besides the Revenue Secretary and Joint Secretary (Foreign Tax and Tax Research).
In April this year, the government had disclosed names of some individuals and also firms for their accounts abroad. It had also handed over confidential details of persons who operated accounts in Liechtenstein Bank in Germany.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}