Hasan Ali case: Swiss court asked for I-T probe

A Mumbai court has issued a letter rogatory to its Swiss counterpart to allow Income Tax authorities to investigate accounts of stud-farm owner Hasan Ali, who is alleged to have billions of dollars deposit there.

Last Updated: May 14, 2010, 00:33 AM IST

New Delhi: A Mumbai court has issued a
letter rogatory to its Swiss counterpart to allow Income Tax
authorities to investigate accounts of stud-farm owner Hasan
Ali, who is alleged to have billions of dollars deposit there.

"Letter Rogatory has been issued by Metropolitan
Magistrate Mumbai yesterday. It will enable the tax department
to investigate Swiss bank accounts of Hasan Ali and his
associates," a Finance Ministry source said.

Letter Rogatory, which is issued by domestic court to its
foreign counterpart to cooperate in investigation, will enable
further probe into the matter, the sources added.

After a search on the premises of Ali in 2007, Income Tax
department had found one of the documents containing
information that he has around 8 billion dollars in the UBS
AG, a Swiss Bank.

Based on the various documents, tax demand of Rs 71,846
crore was raised by I-T department in December 2008.

Besides Hasan Ali, persons involved in the case are his
wife Rheema Hasan Ali, Hasan Ali`s associate Kashinath
Tapuriah and his wife Chandrika Tapuriah and a related entity
R M Investment Pvt Limited.

The income tax department had also ceased Rs 90 lakh cash
from Hasan Ali and three properties were also attached.

Enforcement Directorate through the Indian Government had
also approached the Swiss Government on the basis of these and
other documents.

The Swiss Federal Tax Administration had earlier refused
to share bank related information on the ground that such
information regarding bank deposits of Indian residents is
covered by Banking Secrecy Laws.

PTI