Miscellaneous - This Day That Age   

dated September 5, 1957: Income-tax evasion

The Finance Minister, Mr. T.T. Krishnamachari, has expressed the wish that it would be possible to “tear the veil of secrecy” which till now surrounded records, documents and books produced before income-tax officers by tax evaders. This would require amendment of Section 54 of the IT Act. He told the Lok Sabha on September 3, “I do hope the Government will permit me to publish these figures at least after investigation and after assessment.” Mr. Krishnamachari was replying to critics who, he said, “had worked themselves up into a state of fury” over the alleged harassment of assessees by income-tax officers. He said that while there might be exceptions, generally speaking those who complained of harassment were rich men who evaded tax.

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