Unauthorized disclosure on black money can sabotage probe, Arun Jaitley says - Times of India

NEW DELHI: Lashing out at those, including the Congress party, who want the government to make names of black money holders public, finance minister Arun Jaitley on Sunday said unauthorized disclosure of such names can sabotage investigation and benefit the guilty.

READ ALSO: I am committed towards bringing back black money, PM Narendra Modi says

"An unauthorized disclosure of information is fraught with both investigation and economic consequences. They can sabotage the investigation. They can attract sanctions in the form of withholding taxes," he said in a Facebook post on a day when Prime Minister Narendra Modi asserted that all efforts would be made to bring back black money stashed abroad.

READ ALSO: Centre gives list of 627 foreign account holders to Supreme Court

Questioning those demanding disclosure of names in violation of tax treaties, Jaitley said: "The Congress Party's stand is understandable. It does not want evidence to be forthcoming in support of the names available with SIT. Are some others ill informed, just indulging in bravado or are they Trojan horses?"

Finance minister Arun Jaitley.

The minister exuded confidence that the Special Investigation Team (SIT), which has been entrusted by the Supreme Court with the investigation, will succeed in bringing out the truth and the NDA government made available all the names in its possession to the SIT on 27th June, 2014 itself.

"The NDA government has had an exemplary record in this matter ... It will continue to support the SIT fully and unequivocally in search of truth," Jaitley said.

The choice before the government was between unauthorized disclosure and disclosure as per treaties, he said, adding that the latter is both a fair and beneficial proposition.

Experts on #BlackMoney claim--disclosure of names of A/C holders may help culprits in finding escape route like #PradipBarman's failed bid.

— Manoj Anand (@manojananda) October 29, 2014

"It will help in collection of evidence and exposure of a wrong doing in accordance with law and fair procedure. A disclosure without evidence would ensure that evidence is never available," he added.

Earlier in his address to the nation over radio, Modi said that bringing back black money from outside the country is an "article of faith" for him and nothing will be lacking in his efforts to do so.

Some unhappy as no SC order on Black money disclosure. Believe only consistent pressure by people will get disclosure. Fight should continue

— Ishkaran S. Bhandari (@Ish_Bhandari) October 29, 2014

Future generations will realize how social media changed Governance & Democracy.Salute to all keeping up pressure on Black Money disclosure.

— Ishkaran S. Bhandari (@Ish_Bhandari) October 27, 2014

Last week the government had submitted to the Supreme Court in sealed envelopes details of 627 account holders in HSBC Bank Geneva.

The government also came under attack from opposition parties that it was going back on its election promise to unearth and bring back black money stashed abroad.

http://ift.tt/1vzptwR on black money,Black Money,Arun Jaitley

Stay updated on the go with The Times of India’s mobile apps. Click here to download it for your device.

This entry passed through the Full-Text RSS service - if this is your content and you're reading it on someone else's site, please read the FAQ at http://ift.tt/jcXqJW.

from Top Stories - Google News http://ift.tt/1o5P1nK

via IFTTT