Treaty violation cited as hurdle to name hoarders
Finance Minister Arun Jaitley addresses newsmen at his residence in New Delhi on Friday. (Photo: PTI)
New Delhi: The Centre on Friday submitted before the Supreme Court that all the information on black money received from foreign countries with which India has double taxation avoidance agreements cannot be disclosed.
The Union government told the apex court that foreign countries have objected to disclosing such information, and if these details are revealed then no other country would sign such an agreement with India.
However, Union finance minister Arun Jaitley later clarified that the government will make public the names of people who have illicit wealth in offshore accounts once formal charges are framed. He said Switzerland has agreed to share information on Indians holding illegal accounts in Swiss banks provided independent evidence is furnished in each case to the Alpine nation.
Appearing before a bench headed by Chief Justice H.L. Dattu, attorney-general of India Mukul Rohatgi mentioned the issue and pleaded for an urgent hearing.
Senior advocate Ram Jethmalani, on whose plea the apex court had constituted a special investigation team on black money, strongly objected to the stand taken by the Centre and said that the matter should not be heard.
“The matter should not be entertained even for a day. Such an application should have been made by the culprits, and not by the Centre,” he said.
DC Correspondent
with agency inputs
New Delhi, Oct. 17
Senior advocate Ram Jethmalani, on whose plea the apex court had constituted a special investigation team on black money, said the Centre is trying to protect people who have stashed black money in foreign banks.
Mr Jethmalani stated he has written a letter to Prime Minister Narendra Modi on the issue and that the PM’s response was awaited.
Speaking to reporters, Mr Jaitley defended the government’s move in the Supreme Court and said the details of people under investigation for having black money accounts cannot be revealed till a chargesheet has been filed in court. "The tax pact signed by the Congress government in 1995 with Germany is constraining the Centre from declaring the names of persons who have black money accounts," Mr Jaitley said. "The government of India is taking all necessary steps to access tax-related information from foreign governments. Black money stashed abroad will be brought back," he said.
Meanwhile, the Congress demanded that the Narendra Modi government either apologise for its attacks on the UPA regime over black money or back out of international treaties that prevent the Indian government from revealing the names of people holding bank accounts abroad. "Now either they should back out from the treaty and live up to the expectations of the people or apologise for making allegations against us," Congress
spokesperson Salman Khurshid said. "After
imposing many accusations on us when we
were in power, they are mentioning the
same treaty," Mr Khurshid said.
The apex court had constituted the SIT
headed by its former judge, M.B. Shah, on a
plea by Mr Jethmalani, who had moved the
court for the purpose of getting black money
back to the country. It had appointed retired
judges M.B. Shah as chairman and Arijit
Pasayat as vice-chairman of the SIT.
( Source : dc correspondent )
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