Hit by SIT order, govt to approach SC
Unhappy over the Supreme Court's July 5 order appointing a special investigation team to take over from it the probe into black money allegedly stashed abroad, the government is likely to approach the top court for certain clarifications.delhi Updated: Jul 08, 2011 23:26 IST
Unhappy over the Supreme Court's July 5 order appointing a special investigation team to take over from it the probe into black money allegedly stashed abroad, the government is likely to approach the top court for certain clarifications.
After a string of meetings between the finance and law ministries, a view is emerging that the government should exercise the option of telling the top court that it has some reservations on the judgment.
Both its top law officers - attorney general GE Vahanvati and solicitor general Gopal Subramanium - have advised the government to "seek relevant clarifications on the judgment".
"We're discussing the matter. It is not a question of review, but some sort of an intervention, but no final decision has been taken," said law minister M Veerappa Moily.
The judgment was being examined "and the exact course would be decided after that", a senior official said.
The government is not comfortable with some of the observations made by the court.
References such as "This indicates a degree of failure of the state… investigations into the unaccounted monies case have proceeded at a laggard pace and even individuals named were not questioned with any seriousness", in particular have perturbed the government.
Union finance minister Pranab Mukherjee summed up the government's mood, saying, "We will announce the decision on the SIT once it is taken. Decision is communicated not the process of decision making on a Supreme Court verdict."
The government told the court that the German authorities had provided information on accounts of Indians with the LGT Bank under the India-Germany double taxation avoidance agreements.
Assessments made against 18 entities - 15 individuals and three trusts with accounts in the German Bank - showed a total income of Rs 43.83 crore and a tax of Rs 24.28 crore.