In a first attempt of its kind, tax enforcement agencies are now trying to locate properties abroad of Pune-based stud farm owner Hasan Ali Khan which could be attached or auctioned to extract from him a huge tax liability to the tune of Rs 40,000 crore.
Both the Income Tax Department and the Enforcement Directorate now plan to send fresh requests under provisions of the Double Taxation Avoidance Agreement (DTAA) and Letters Rogatories to countries where they suspect Khan owns properties including in the United Kingdom and Switzerland.
Top sources said the Finance Ministry is “very hopeful” of getting fresh information on Khan’s investments and accounts from Switzerland as the revised DTAA with the Swiss government allows information to be extended with a prospective effect.
“Some new findings by financial enforcement agencies and the Income Tax department will be placed before Swiss authorities,” sources familiar with the new line of investigation said.
