Government declines to make public names of 12 people with unaccounted cash in foreign banks
15 Apr 2011
The government has declined to make public the names of 12 people who have stashed away unaccounted money in foreign banks, saying that such information received from foreign governments cannot be revealed under the Double Taxation Avoidance Agreement (DTAT).
The Central Board of Direct Taxes (CBDT) today, however, told the Supreme Court that of the 18 named in the list of people who have laundered money in a bank based in Liechtenstein, names of six people could be made public if the court directs so.
Appearing before a bench of Justice B Sudershan Reddy and Justice S S Nijjar, Solicitor General Gopal Subramanium said that since proceedings have been launched against six in the list, their names are in public domain and could be disclosed.
The CBDT had handed over to the SC a list of 18 people having undeclared accounts with a bank in Liechtenstein, in Germany, in a sealed envelope.
He said names of the others could only be revealed once judicial proceedings are initiated against them for tax evasion.
"We have launched prosecution against some persons and there is no difficulty in disclosing their names. But, as far as others are concerned, their names cannot be disclosed until prosecution begins," he said.
