Court summons ex-minister's son, daughter-in-law in IT case

A Delhi court today summoned as accused former union minister Vasant Sathe's son and daughter- in-law for allegedly not disclosing details of their joint Swiss bank account to the income tax department.
Additional Chief Metropolitan Magistrate (ACMM) Devendra Kumar Sharma issued the summons after taking cognizance of the Income tax (IT) Department's complaint alleging that the ex-minister's son Subhash Sathe and daughter-in-law Indrani Sathe had a joint account in HSBC Bank in Geneva with approximately seven lakh US Dollars (now over Rs 4.44 crore).
The court directed the couple to appear before it on June 25.
The department said the couple has been interrogated by its investigation wing and they have admitted the allegations and agreed to clear their tax dues.

"We have jointly made Subhash and Indrani as accused in the case. We had asked them to furnish details including statement of their foreign bank account, but they did not provide us the same. They have been accused under section 276D (failure to produce accounts and documents) of the IT Act and search was conducted at their residence," the department said.
According to the complaint, the balance in their account as on December 2006 was USD 7,49,370.
The couple was engaged in the manufacture of automotive parts and plastic components and are Directors in companies- Sun Vacuum Formers Pvt Ltd and TRW Sun Steering Wheels Pvt Ltd, with manufacturing units located in Gurgaon, Manesar and Pune.