121 Cases Filed against Swiss Bank Account Holders

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New Delhi: The Income Tax Department has filed 121 cases against entities whose names have appeared in the HSBC Geneva bank list, Finance Minister Arun Jaitley said on Friday.

 

 

"If I understand correctly, the assessment of 100 of those cases has been completed and 121 prosecutions have been filed by the tax department against those who were caught with the accounts abroad," he said during an address at the foundation day of the Enforcement Directorate.

 

 

A senior official told IANS here a report also has been sent to the Special Investigation Team, which is now compiling all the figures and data to present an action report before the Supreme Court on or before May 12.

The 121 cases were filed before the March 31 deadline for prosecution before they would have elapsed.

Jaitley also said he would move the Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill, 2015, in the Lok Sabha next week.

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