Come with proof, not for fishing expedition: Swiss Ambassador on black money case

Switzerland's Ambassador to India Linus von Castelmur also said the past cannot be undone, while promising full support of his country in cases where at least some proof is provided on tax frauds.

He, however, agreed that all the money deposited in Swiss banks might not have always been 'taxed money' in the past, as Switzerland was a major destination for several decades when money would flow in from different sources.

The Ambassador said cooperation by Swiss authorities cannot take place on the basis of stolen lists of account holders and would need independent probes by Indian agencies and at least a prima facie proof of tax frauds.

"We understand and appreciate India's concerns on the matter. We need clear understanding on the issue," Castelmur told PTI in an interview here.

"I think one part of the issue is dealing with the past and Switzerland was destination for several decades where money flowed in from difference sources and that was no always a tax money," he said.

"When we look from present and future, we see that problem will be solved," said Castelmur, who was here for an award function where industrialist Azim Premji was given a Swiss honour for inspirational and socially responsible leadership.

The issue of black money suspected to be stashed abroad, including in Swiss banks, has been a matter of intense debate in India for years.

The matter has been in focus recently with the Opposition parties accusing the government of going back on its promise to bring back black money from overseas within 100 days of its coming to power.

A Supreme Court monitored Special Investigation Team is looking into ways to tackle the black money menace, while the government recently said it has reached a major breakthrough in the form of a new agreement with the Swiss authorities for cooperation on sharing of details about alleged black money holders in Swiss banks. A global automatic information exchange is also in the works, while the issue is already being discussed at international forums like OECD and G-20.

Source: Uttar Pradesh News and Bihar News

Congress has no right to talk about black money: BJP

The party said the Narendra Modi government, as its first action on bringing back black money, constituted the SIT to probe the issue and is making attempts to get information about offenders from various sources and make it public.
  
"The previous UPA government initially opposed the constitution of SIT to investigate black money. An idea given by the Supreme Court in 2011 was vociferously opposed by the then Solicitor General. In November 2013, UPA filed an application in the court asking the Supreme Court to modify its earlier order that appointed SIT. The SIT was asked to investigate the Hassan Ali case and other cases," BJP Secretary Shrikant Sharma said.
  
"UPA, as late as in November 2013, still hoped and tried that the SIT would not be formed. This petition was dismissed by Supreme Court. Even on May 8, 2014, the UPA in its last days filed a review petition, among other things, to cancel important Supreme Court orders which constituted the SIT," he said, adding the previous government made "all-out efforts to stall the probe into the issue".
  
He said immediately after the Modi government took over on May 26, it constituted the SIT on May 28. Thereafter, it provided all names of foreign account holders to the SIT and started meetings with Swiss authorities for more information.
  
Congress has attacked BJP, saying it made "tall" promises on black money during Lok Sabha polls campaign and vowed to disclose "55,000 accounts" but "even Rs 55 has not come in five months" after it assumed power.
  
Sharma hoped that the authorities looking into the black money issue would complete the assessment of the report of account holders by November 30 and the Income Tax department would complete its report by March 31, 2015.
  
The BJP leader said the Supreme Court also made certain remarks against the Congress regime in its orders on the black money case which "speaks volumes about the intentions of the previous government in investigating the serious issue".
  
"And now Congress has no moral right to talk on the issue," he said.
  
Sharma further claimed that after coming to power, the BJP dispensation has shared all information with the SIT on black money and has in fact stepped up efforts to obtain more and more information in this regard from abroad before making it public amid fears among the internationally banking community on the breach of the confidentiality clause.

Read more: News in Hindi and Newspaper