SC Rejects Govt Plea on Black Money

Published: 27th March 2014 08:04 AM  |   Last Updated: 27th March 2014 08:04 AM   |  A+A-

In a major embarrassment to the UPA government, the Supreme Court on Wednesday rejected its plea to recall its order for setting up a Special Investigation Team (SIT) to probe all cases of black money and said it had to step in as for over six decades the government failed to bring back the money stashed in foreign banks.

“Let us see if the SIT will do things which this country is dreaming of,” a three-judge bench headed by Justice H L Dattu observed.

The court dismissed the Centre’s plea and pulled it up for its reluctance to accept the SIT headed by two retired SC judges. The court said its two-judge bench, in its July 4, 2011, order for setting up of the SIT, felt that “no effort was made to bring back money stashed in foreign banks”, which could have been accounted for and pumped into the “mainstream of the economy”.

“It was the feeling of this court that no effort was made to bring back the money stashed in foreign banks and no effort was made to disclose the names of those whose money was lying in the foreign banks. If the money had been brought back the economy of the country would have gone up. Per capita income would have gone up. Income tax rate... would have been reduced,” the bench observed.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp