NEW DELHI: The Income Tax department is likely to initiate prosecution against close to 300 people whose names have been submitted to the Supreme Court on Wednesday in connection with the probe into alleged black money accounts in HSBC Bank in Geneva.
Officials said the department has informed the Special Investigation Team (SIT), constituted to go into the issue, to allow it to start the “first step of prosecution” under two sections of the Income Tax Act. (PTI)
