The tax effect in these cases could be about Rs 50-80 crore, according to sources.
    
Faced by non-cooperation from Switzerland owing to the alpine nation's "domestic legal barriers" and "treaty limitations", the Finance Ministry's probe wing under the Central Board of Direct Taxes (CBDT) confronted the people who were named in the secret list of at least two Swiss banks that was provided to them "through both official and unofficial channels" during the last financial year, the sources said.
    
The CBDT later asked Income Tax department sleuths to pursue these suspect account holders with the bargain that they would be charged under tax evasion laws and not under the 'wilful tax evaders' category, thereby saving them from harsher penal action, if they approach their banks for details of their personal balances and submit them to Indian agencies.
    
Over 100 such account holders, according to an official note accessed a news wire, spread in cities like Delhi, Mumbai, Hyderabad, Chennai, Chandigarh and Banglaore among others agreed to the new mechanism which helped India crack some of the tough cases of black money and illicit funds stashed abroad.
    
"The tax effect in these cases could be about Rs 50-80 crore and this instance is one of the few where secret bank data of an Indian client was obtained despite strict secrecy laws of Swiss authorities in force in this regard," sources privy to the development said on condition of anonymity.
    
The particular report was also shared by the agencies with the Special Investigation Team (SIT) on black money which has now submitted these cases in a report format to the Supreme Court.
    
The Income Tax department, the note said, has begun prosecution action in these over 100 cases and they will be charged for evasion of taxes on this hidden income.

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