Centre to SC: Won’t spare foreign bank account holders

R Sedhuraman

Legal Correspondent

New Delhi, December 3

The Centre today assured the Supreme Court that it was going after holders of black money in foreign banks, either in the past or now, and none would be allowed to get away citing lapse of time.

Appearing for the Centre, Attorney General Mukul Rohatgi told a Bench headed by Chief Justice HL Dattu that the government was extending the period of limitation for tax recovery from six years to 16 years so that tax evaders in the past would also be covered under the drive against black money.

Further, the onslaught against black money holders would continue even after March 31, 2014, the deadline for completion of investigation against 627 persons found to be having accounts in HSBC bank branch in Geneva, Germany, the AG said.

The AG made the assurance on an apprehension expressed by PIL petitioners, Ram Jethmalani and others, that the government might give up the drive citing the lapse of time. The Bench, which included Justices MB Lokur and AK Sikri, recorded the AG’s statement in its order and expressed the hope that the government would keep its word.

Appearing for the petitioners, senior advocate Anil Divan sought a copy of the SIT’s interim report submitted to the SC in a sealed cover. The AG said the government would also like to have a copy of the report.

The Bench asked both the petitioners and the government to approach the SIT for the report. The apex court would give its advice to the SIT, just in case the team sought its view on the plea for disclosure of the report. Nevertheless, the SIT had advised the SC against disclosing certain portions of the report, the Bench said.

Divan also sought a copy of the entire communication the Centre had with German authorities before getting the list of 627 bank accounts held by Indians in the HSBC Bank in Geneva. He said the copy given by the Centre earlier had blank spaces, indicating that information had been deliberately removed. The AG said he would look into this aspect as the copy had been provided to the petitioner by the previous UPA government. The SIT is headed by Justice MB Shah as Chairman and Justice Arijit Pasayat as Vice Chairman (both retired SC judges). The Bench slated the next hearing for January 20.