Can you predict the outcome of a tax case in which government gets information about a hidden bank account in HSBC , Geneva ,Switzerland in which the department initiates search proceedings , grills the alleged account holder who admits admits under oath that the said swiss bank account belonged to him , that his wife operated the said account?
So , if you are asked about fate of such a tax case , what would be your response or guess ? Huge tax bill , penalty , prosecution . Maybe department was also gung ho about its achievements , so we saw in frontline media, headlines like ICIJ, HSBC lists: I-T dept detects Rs 13,000 cr black money ( moneycontrol.com ) or Black money: 121 cases against HSBC account holders (The Hindu ) . You will be astonished to know the result and may even wonder if results like that comes in a case where everything is on platter for the department , what would be result in cases where there are no evidence at all in many cases , post demonetization!
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