Government moves Supreme Court for recall of order for setting up of SIT on black money

The government has asked the Supreme Court to review its order which was passed last week which asked for the set up of a new committee to handle the problem of black money. Th government today formally petitioned the court today, saying that its order amounts to "judicial overreach into the functioning of the executive". The Supreme Court has repeatedly warned the government for a lethargic and lacklustre investigation into which Indians hold undeclared money in foreign bank accounts. The Court said that the unaccounted black money runs into crores and it can be used for drug trafficking or to challenge the security of the country. Last week, the court sanctioned a Special Investigation Team (SIT) headed by a former judge, that would travel abroad if necessary for further investigation into the probe of black money. Effectively, this new team would over-write a committee that the government had set up for the same purpose. This panel comprised of high officials such as Revenue Secretary, Income Tax officials and representatives of the Intelligence Bureau. The original petition on black money was filed in the Supreme Court by a group of people including famous lawyer Ram Jethmalani. Emphasizing on the need for mutual cooperation between countries to track down tax evaders, President Pratibha Patil on Friday said her government would take necessary measures to crack down those who evade tax. She confirmed that the government would encourage the environment of voluntary tax compliance, strict measures would be taken to bring obstinately uncooperative tax evaders to justice. The President said the thrust for global co-operation should continue "through appropriate agreements on tax information exchange, and on mutual co-operation between countries to track down evaders taking shelter in other jurisdictions". News reported by News Vision - Online News Paper