Finance Minister Arun Jaitley Thursday said that of the 28 accounts identified in the tax-haven of Liechtenstein, income tax proceedings have been concluded against 18 "illegal" account holders and cases filed against them."Of the 28 accounts in Liechtenstein on which Germany had information, 18 accounts were illegal (najaiz). We have concluded income tax proceedings, given the tax dues and the penalty. And cases have been filed against them," Jaitley told the Lok Sabha in his reply to the debate in the lower house on illicit money stashed away by Indians abroad.He continued refuting opposition charges that little was being done to get back illicit money stashed away by Indians abroad and maintained that a lot of ground has been covered and 250 people have conceded to having overseas bank accounts, while more names would come up as cases are filed.
He said that out of the 627 names of Indians holding bank accounts overseas, that were furnished to the Supreme Court in a sealed envelope, 427 had been identified. Out of that, he added, 250 had admitted to such accounts.The finance minister said that as things stood now, the Swiss authorities have been persuaded to at least establish the veracity of any evidence that the Indian government and the special team manage to procure from various sources regarding these accounts.