Indian Supreme Court: Black Money is theft of national money

January 25, 2011 The Supreme Court is taking no excuse for stashing black money abroad and wants answers from the Government.

A Supreme Court Bench comprising of Justices B. Sudershan Reddy and Surinder Singh Nijjar while hearing a petition filed by Senior Advocate Ram Jethmalani said, “It is a pure and simple theft of the national money. We are talking about mind-boggling crime. We are not on the niceties of various treaties”.

Solicitor General Gopal Subramanium tried explaining the nuances of the Double Taxation Avoidance Agreement (DTAA) before the Bench, but the Court expressed unhappiness about the Government filing an affidavit restricting information to Rs. 43 crore, deposited by 26 persons in Liechtenstein Bank in Germany.

Read more at barandbench.com.

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