Jethmalani hits out at FM, Shah on black money

Asks Jaitley why the govt not keen to avail of German offer to share info on offshore accounts

Former Union Law minister and senior lawyer Ram Jethmalani on Tuesday put the Union finance minister Arun Jaitley on the witness box and slapped him with a dozen questions on the Narendra Modi government's efforts on delivering its key poll promise on black money.

"Whether it was the previous government or the present one, my battle for the return of our national wealth illegally parked in foreign banks estimated to be around $1500 billion or Rs 90 lakh crore, back to our national coffers continues unabated," Jethmalani said in a prominent half page advertisement published in a leading newspaper, where he questioned prime minister Narendra Modi's studied silence and various recent government actions and termed these as "unpardonable betrayal.'

"Why have you not availed of the German offer to share information about the 1400 Liechtenstein Bank accpint holders which the Supreme court has dealt with in paras 64 and 65 of its judgement? This disclosure has nothing to do with the double taxation avoidance treaty (DTAT). Do you know that the USA has used this information and collected penalties from a bank and the disclosure of more names as part of punishment? " the nonagenerarian lawyer asked.

Jethmalani also hit out at the amended DTATs signed by the finance minister. " Do you really understand the meaning and implications of the 'Amended Double Taxation avoidance treaty' contemplated under Section 90 of the Income Tax Act? Note that this amendment is the first of its kind in our country and the motives are not far to seek. Do you know that the DTAT only applies to legitimate businesses which according to laws of more than one state are liable to pay tax on the same income? Do you realise that obtaining information under amended DTAT completely abandons the United Nations Convention against corruption, which is specifically drafted for obtaining information about money launderers?" he asked.

Asking how many such treaties the FM had signed since taking over last year, he pointed out that the amended DTAT would only apply prospectively and not to information prior to the signing of treaty.

The former BJP member also was not happy about the ruling party president Amit Shah referring to the promise of repatriation of black money was a mere election 'jumla'.

Asking Jaitley if this was made with his concurrence, Jethmalani said, "You have never disowned it, and neither has anyone else in the government. This is confession enough in my opinion of an intentional fraud on the nation."