The Supreme Court on Friday asked the Centre to consider revealing the names of those who have deposited their black money in the Liechtenstein Bank in Germany now that the German government had furnished the details. Justice B. Sudershan Reddy, heading a Bench with Justice S.S. Nijjar, did not agree with Solicitor-General Gopal Subramaniam's submissions that being privileged information, it could not be disclosed. When the S-G said the government had...

Talking tough, the Supreme Court today questioned the Government as to why it was reluctant in disclosing the names of Indian nationals who have allegedly stashed black money in foreign banks. "What is the difficulty in disclosing the information," a Bench comprising B Sudershan Reddy and S S Nijjar asked when Solicitor General Gopal Subramanium informed the bench that Government has got the details but did not want to reveal it. The...

The Finance Ministry has begun its maiden investigation into over 100 offshore "financial structuring deals" undertaken by Indian business entities in foreign tax havens to allegedly evade the taxman's net. The multi-pronged probe has been undertaken by the international taxation wing of the Income Tax department and the foreign taxation unit in the Central Board of Direct Taxes (CBDT). A number of investments and deals to the tune of billions of rupees...