The Supreme Court on Monday appointed Special Investigation Team (SIT) headed by a former SC judge to probe black money issue. Former SC judges - Justice B P Jeevan Reddy and Justice M B Shah - will be the chairman and vice-chairman of the SIT. The team will also include chiefs of the Intelligence Bureau (IB) and Research and Analysis Wing (RAW). The SIT will file first status report in the third week of August.
The apex court slammed the government for its lethargy in getting the black money back. The court asked the government to disclose names of foreign bank holders against whom I-T proceedings have been concluded. It also told the government that it could not have agreed with other countries under double taxation avoidance treaty not to disclose names of foreign bank account holders who have deposited illicit money abroad.
The bench also questioned the Centre’s decision to grant a licence for retail banking to Swiss bank UBS whose credentials had come under scrutiny in black money cases.
The court issued a series of directions to the SIT and gave it just over a month’s time to file compliance reports.
Commenting on the development, home minister P Chidambaram said, “If the Supreme Court has given an order, it is final because it is the final court. Let us first read the order.”
The Supreme Court also severely criticized the government's delay in probing black money, Hasan Ali Khan and others and said this was not only against the constitutional mandate but also akin to putting national security in danger.
Welcoming the order, BJP spokesperson Prakash Javadekar said, “This decision is a slap on the face of the government. The government does not want to take any tough and honest measures to check corruption and black money.”
The apex court slammed the government for its lethargy in getting the black money back. The court asked the government to disclose names of foreign bank holders against whom I-T proceedings have been concluded. It also told the government that it could not have agreed with other countries under double taxation avoidance treaty not to disclose names of foreign bank account holders who have deposited illicit money abroad.
The bench also questioned the Centre’s decision to grant a licence for retail banking to Swiss bank UBS whose credentials had come under scrutiny in black money cases.
The court issued a series of directions to the SIT and gave it just over a month’s time to file compliance reports.
Commenting on the development, home minister P Chidambaram said, “If the Supreme Court has given an order, it is final because it is the final court. Let us first read the order.”
The Supreme Court also severely criticized the government's delay in probing black money, Hasan Ali Khan and others and said this was not only against the constitutional mandate but also akin to putting national security in danger.
Welcoming the order, BJP spokesperson Prakash Javadekar said, “This decision is a slap on the face of the government. The government does not want to take any tough and honest measures to check corruption and black money.”
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