The Supreme Court on Wednesday asked the Centre to ensure that Income Tax proceedings against all Indians stashing away black money in foreign banks to be completed by March next year.
"We are confident that the Centre will complete proceedings against the accounts holders of black money on of before March 31, 2015," said a bench headed by Chief Justice of India HL Dattu while accepting Attorney General Mukul Rohatgi's submission that it will be over by March next year in response to noted jurist and petitioner Ram Jethmalani's argument that court should fix a time frame for completion of proceedings.
Rohatgi also said that there would not be any problem as now the prosecution for tax evasion can be initiated upto 16 years of commission of the offence.
To this, the bench also said in its order that if required the government will appropriate decision for extension of time.
During arguments, Jethmalani urged the court to provide him with a copy of the SIT report and also documents pertaining to Centre's correspondence with France on the issue and also raised objection to Solicitor General's (SG) appearance on behalf of the court appointed panel saying "it is conflict of interest."
Accepting Jethmalani's objection, the apex court asked the second senior most law officer Ranjit Kumar to furnish the authorisation letter issued by the Special Investigating Team (SIT) to him to represent it in the court. However, for copy of the report and other information, the court asked Jethmalani to move before the SIT which will consider his plea.
On behalf of Jethmalani, senior advocate Anil Diwan argued that Kumar being a government counsel cannot appear for SIT and "it is conflict of interest."
Divan said how can a government counsel appear for SIT which was set up by the court to monitor and frame modalities to bring back black money, after the petitioner voiced against the inaction of government on the issue.
The lawyer's submission came after the Attorney General for India Mukul Rohtagi also appeared before the court representing the Centre in the case and sought the bench that a copy of SIT report to be supplied to government too.
After the objection raised by the petitioner's counsel, Justice Dattu asked Kumar to file SIT's authorisation letter before placing any submission for the judicial panel.
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