Black money in tax havens: Govt gives list of 26 to SC but pleads against public sharing

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Black money in tax havens: Govt gives list of 26 to SC but pleads against public sharing By TII News Service Jan 18, 2011 , New Delhi
IN the Ram Jethmalani-petitioned black money PIL, the Union Government yesterday submitted a list of 26 Indians whose details were obtained from the German tax authorities in 2007, to the Supreme Court of India. This list contains names of NRIs and resident Indians who have allegedly stashed away huge funds to LGT Bank in the land-locked Liechtenstein in Europe. The list in a sealed cover was furnished with a note that the same cannot be made public as it would violate the commitment given to German authorities at the time of receiving the information. The Ministry of Finance probably fears that revealing sensitive tax-related information might jeopardise India's on-going talks with many nations for exchange of tax-related bank information. The hearing in the case is listed for tomorrow.

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