TNN, Sep 17, 2010 ;NEW DELHI :
Reiterating its earlier stand, the government on Thursday declined to part with information regarding bank accounts held by Indian taxpayers in Liechtenstein's LTG Bank in response to an RTI application.
The finance ministry said the information received from German authorities had been passed on to income tax authorities and could not be disclosed as it was exempted under Section 8 of the RTI Act.
The ministry claimed that disclosure would adversely affect the nation's sovereignty, and the information shared by a foreign country is confidential.
In response to an application filed by activist S C Agrawal seeking details of black money stashed in Swiss bank accounts by Indians, the finance ministry said, "There is no verifiable information available about the quantum of Indian money deposited in Swiss banks."
Regarding efforts made to retrieve this wealth, the ministry said a writ petition had been filed in the Supreme Court and the matter had been pursued with the Swiss Confederation. "However, the Swiss federal Tax Administration has expressed its inability to exchange information regarding bank deposit of Indian residents as the information was not necessary for the application of the double taxation avoidance agreement between India and Swiss Confederation but was required only for the enforcement of Indian internal laws," the ministry said.
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