HSBC bank secret accounts: IT dept to begin prosecution action
Agencies: New Delhi, Nov 28 2012, 15:55 IST
700 HSBC accounts from French government channels last year.
According to the latest data, in 80 cases till now, the I-T department has detected undisclosed income of Rs 438 crore and taxes of Rs 135 crore have been realised so far.
The Finance Ministry had recently said that investigations are in progress with regard to these account holders days after activist Arvind Kejriwal accused it of inaction over black money allegedly stashed away in the HSBC Bank in Geneva.
The official statement had said that information was received in June last year by the government from its counterpart in France relating to certain bank accounts reportedly held by certain individuals and non-individuals in a foreign bank.
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