NEW DELHI : Son and daughter-in-law of former Union Minister Vasant Sathe were granted bail by a city court on Thursday in a black money case slapped on them by the Income Tax Department for having a joint Swiss bank account without disclosure.
Additional Chief Metropolitan Magistrate Devendra Kumar Sharma had summoned them on a complaint by the Income Tax Department that they had a joint bank account in Geneva with approximately 7 lakh US dollars which they had not disclosed in their income-tax returns.
According to the department’s application, the couple has admitted the charge of the non-disclosure and committed to pay their tax dues, but they are liable to be prosecuted for not disclosing to have stashed money abroad without the necessary permissions. Summons were issued by the court after hearing the department’s counsel. Both appeared in the court and sought the bail. The next date is fixed on July 10 for pre-charging evidence.
