SIT calls for emergency meet after Express report

February 09, 2015 10:54

The SIT on black money has called for an emergency meet today in the wake of the Indian Express report on the list of Indians holding Swiss Bank accounts. SIT says the Swiss leaks report mentions only part of the "loot".

Sources said the complaints, under I-T laws, have been filed in various courts of the country and investigations in these cases have been completed by the taxman as these cases will get "time barred" by March 31 after which any legal action against them could not be carried out as the cases pertain to the period of 2008-2009.

"The disclosures of these names is part of the government's commitment to curb cases of black money and of illegal funds stashed abroad by Indians. The I-T department aims to get conviction in these cases very fast," they said.

The SIT, headed by retired Supreme Court Judge Justice M B Shah, had said in its last report to the government and the Supreme Court in December 2014 that the black money holders names in HSBC Geneva list will be taken to their logical conclusion soon.

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