The documents containing correspondence with French authorities, names of the account holders and the status report of the probe conducted so far in black money cases were submitted in separate sealed covers by the Attorney General, which the apex court did not open.
Instead, the court said the envelopes would be opened by Chairman M B Shah and Vice Chairman Arijit Pasayat, both former judges of the Supreme Court, who are part of the court-appointed Special Investigation Team, and decide on future course of action.
The Centre submitted that almost half of the account holders are resident Indians who could be prosecuted under the Income Tax laws and rest of them are NRIs.
Appearing before a bench headed by Chief Justice HL Dattu, Attorney General Mukul Rohatgi said that some of the account holders have already admitted to having accounts and having paid taxes.
Rohatgi said details of account holders are of 2006, which were supplied by the French government to the Centre in 2011. Most transactions in those accounts took place during 1999 and 2000 and the last date for completion and assessment in all these cases is March 31, 2015.
Source: Assam Tribune
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