NEW DELHI: The Supreme Court asked the Centre today to ensure that the probe income tax in progress for suspected black money relative to 627 Indians who have accounts in HSBC, Geneva bank, you were not required and was completed in March next year.
The court also said that if for any reason the probe are inconclusive, the Centre will take the right decision to extend the deadline March 31, 2015.
A headed by Chief Justice HL Dattu Bank also requested the apex court-appointed Special Investigation Team (SIT) to investigate cases of black money to examine the reason for the supply of certain information and correspondence received by it to the petitioners without "blackening" content.
Eminent jurist Ram Jethmalani, one of the petitioners in the case, said the then Attorney General in the previous UPA government Mohan Parasaran, had provided some letters and documents after masking certain portions.
The bank, which also includes judges MB Lokur and AK Sikri, accepted another resource of counsel Anil Divan Jethmalani the SIT headed by Justice MB Shah, should examine the reason that you provide copies of the reports of his research on cases of black money.
Attorney General Mukul Rohatgi responded to pleas saying that there was going to say "no" to supply copies of reports submitted by the SIT and said the issue of time bar would not arise in tax probe the black money suspected.
"We are aware of it and that would be no problem, since now the prosecution for tax evasion can be started up 16 years of the offense," he said.
The bank, in order, said: "We are confident that the proceedings before the department of income tax will be completed by March 31, 2015 and if for some reason has not been completed, we are confident that the decision will be appropriate ".
Rohatgi said he was not aware of why certain parts of the documents supplied with the previous UPA regime were "Blackened".
While the issue of masking certain portions of the documents being discussed, the bank said, "dates and appointment of officials are there and if you try you can see everything."
The bank, which posted the next hearing for January 20, told all their grievances, Jethmalani may make representation before the SIT to examine the ground.
At the end of the hearing, counsel Prashant Bhushan activist raised the issue of disclosure of the names of 250 people admitted to holding accounts in foreign banks, but left after tax procedures.
However, after the attorney general said his application for assistance has not been allowed so far, the bank said their motive can not be directed by him.
Jethmalani said, "see the tragedy of a person trying to retrieve the black money to the country. I'm sitting in opposition. This is the tragedy of the country".
Rohatgi said the court was not the appropriate forum for formulating such issue.
The Center on October 29 had been given to the apex court a list of 627 Indians who have accounts with HSBC in Geneva, where the tax probe for suspected black money has to be completed in March next year.
Documents containing correspondence with the French authorities, the names of the account holders and the status report of the probe conducted so far in black money cases were presented in sealed covers and separated by the Attorney General that the maximum tribunal had not opened.
Instead, the court had said envelopes by MB Shah and Vice President Arijit Pasayat, both former judges of the Supreme Court, which are part of the SIT appointed by the court, and decide on the future course of action open.
He had asked the SIT to conduct an investigation against the account holders and submit its report on the status of its investigation as quickly as possible.
The Centre had said that nearly half of the account holders are resident Indians who could be prosecuted under the laws of income tax and rest of them are NRIs.
Rohatgi said some of the account holders have already admitted to having bills and have paid taxes.
Rohatgi said that details of account holders are 2006, which were supplied by the French government for the Centre in 2011. Most transactions in those accounts was conducted during 1999 and 2000 and the last date for completion and evaluation in all these cases the March 31, 2015.
He had said that the Act has been amended. Instead of six, now the prosecution for tax evasion can be started up 16 years of the offense, he had said.
