Friday 15 July 2011

Black money: Govt to soon decide on seeking review of SC order

U.S. Supreme CourtImage via WikipediaFinance Ministry said the government will take a decision on seeking review of the Supreme Court order constituting a Special Investigation Team (SIT), in the next two-three days.

Both the Finance and Law Ministries are discussing the July 4 order of the apex court appointing a SIT, which includes two former SC judges, to monitor steps to bring back unaccounted money stashed in tax havens.

"We (Finance Minister) are seeking their (Law Ministry) views...some decision is likely in 2-3 days," Chairman of Central Board Direct Taxes (CBDT) Prakash Chandra told reporters here on sidelines of a function.

The Government has not yet taken a final view on seeking review of the Supreme Court order, he said adding "the order is very broad and was being studied".

On July 4, pulling up the government for the 'laggardly pace' in investigations into the issue of black money stashed abroad, the apex court appointed a SIT headed by former Supreme Court judge B P Jeevan Reddy to monitor steps taken to bring the unaccounted money back home.

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