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From the Courts »
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Income - Tax department writes to ED on Hasan Ali Case
May, 20th 2011

The taxman seems to have reached a dead end with its probe into the Rs 74,000 crore Hassan Ali tax evasion case. Reporter learns that UBS Zurich has denied any link to India's biggest alleged tax evader. What's more, a puzzled taxman has also expressed its displeasure to the Enforcement Directorate recently regarding lack of probe details, reports .

It seems to be a dead end as far as the taxmans probe into this high profile case is concerned. The I-T department has recently received a communication from UBS Zurich headquarters and the communication categorically denies having any links with Hasan Ali. So, quite clearly the bank is reiterating its original stance.

But the interesting twist in this entire probe is that UBS Zurich is also believed to have told the taxman that they had sent a similar response to the Enforcement Directorate three-and-a-half years earlier.

Now, the taxman claims to be blissfully unaware of this aspect and therefore has expressed his displeasure, according to the sources, by shooting off a stern letter to the Enforcement Directorate trying to ascertain whether there are any fresh details, as far as the Hasan Ali probe is concerned.

The taxman, I believe, is also seeking details of Hasan Ali's custodial interrogation, as far as Enforcement Directorate's probe into this case is concerned.

Keep in mind that the taxman has not been allowed to take statements or infact interrogate Hasan Ali for the past two-and-a-half months. So, therefore, it is staring at a wall right now as far as this probe is concerned.

Another interesting aspect to be kept in mind is that the ITAT hearing in this case comes up on June 14, 2011. So, a lot depends on what the Enforcement Directorate shares with the taxman in the coming days.

 
 
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