Tax investigators pursuing instances of black money stashed abroad by Indians have finally been able to circumvent the Swiss secrecy code by asking over 100 such account holders to submit on their own details of personal balances in these banks, brought under the tax net recently, for lesser penal action for evasion.
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 here.

Source - http://timesofindia.indiatimes.com