Black Money Case: SC Permits to File Affidavit to Reveal Account Holders

The Supreme Court on Monday gave permission to the central government to file an affidavit that may reveal some names of the account holders in foreign banks, which is currently under the lens of the income tax authority.

The apex court bench headed by Chief Justice H.L. Dattu permitted the filing of the affidavit after Attorney General Mukul Rohatgi mentioned the matter before the court today morning. The affidavit is likely to be filed later in the day.

The government have filed an additional affidavit in the Supreme Court, regarding the case stating reasons for not revealing the names of those foreign bank account holders who were reportedly not being prosecuted for any illegality under the income tax law.

While there were allegations and accusations on the names of politicians, the names which would reveal today reportedly includes of no political personality. However, the names of politicians was said to be revealed only if prosecution is launched against them.

As per reports, the government has recently told the Supreme Court that it can’t reveal the names received from other countries as it would violate tax treaties with those countries.

Earlier, Finance Minister Arun Jaitley has said that the Congress party would be embarrassed when the government reveals in court the names of those who have stashed away undeclared income in overseas accounts.

Warning Congress to get set to be worried, he has said, "Once we inform the court, the names will automatically come out in public; the media and Congress got this story all wrong." Whereas, accusing Jaitley of “bluffing” on the people, Congress leader Ajay Maken has warned BJP, saying, “The government should not try to blackmail Congress” and dared them to name the ‘traitors’.

In the run-up to the Lok Sabha polls, the Bharatiya Janata Party had promised to bring back black money kept by Indians in overseas banks and repeatedly slammed the Congress led United Progressive Alliance for not taking an effective action anything to bring back the blackmoney and accusing it of shielding the corrupt. Modi-led government had promised to fulfil its promise, after assuming power in the month of May.

However, expressing reservation on disclosing all information on account holders, the government had said that the foreign countries may not give further information and it would also be difficult to get into Double Taxation Avoidance Agreement with other nations.

(With inputs from IANS)

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