Complete I-T proceedings against black money holders by March 2015: SC to Centre

Mangalore Today News Network

New Delhi, Dec 03, 2014: The Supreme Court on Wednesday asked the Special Investigation Team, appointed by it to probe black money cases, to share a copy of its probe’s status report with the Centre.

While asking the SIT to consider petitioner’s request, the court also directed the Centre to complete income tax proceedings in the case with regard to the names it has received.

The court gave the Centre time till March 31, 2015 to complete such proceedings.

The SC posted the matter for further hearing on January 20.

It was earlier expected that the SIT may submit its second preliminary report before the apex court at today’s hearing.

The SIT has said that it will go after the offenders "big or small".

The SIT said it was gathering more names other than the over 600 account holders in HSBC Bank, Geneva, given by the government to Supreme Court in November, for investigation.

Attorney General Mukul Rohatgi, on behalf of the government, had submitted a list of 627 names having accounts in HSBC Bank, Geneva before the apex court. These names had earlier been shared with the SIT also.

The SIT, which is responsible for investigating cases of black money stashed abroad through coordination of various members, had submitted its first report in August this year.

 

Courtesy: Zeenews