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prelims Test Series 2019
अंग्रेज़ी सीखने का अवसर (कक्षा प्रारंभ : 5 अक्तूबर, शाम 6 से 8)
Constitution of SIT for Black Money Approved
May 28, 2014

The Union Cabinet today approved constitution of Special Investigating Team (SIT) to implement the decision of the Hon’ble Supreme Court on large amounts of money stashed abroad by evading taxes or generated through unlawful activities.

The SIT will be headed by Justice M.B. Shah, former Judge of the Supreme Court as Chairman and Justice Arijit Pasayat, former Judge of the Supreme Court as Vice Chairman.

The Members of the High Level Committee will comprise:

  • Secretary, Department of Revenue

  • Deputy Governor, Reserve Bank of India,

  • Director (IB),

  • Director, Enforcement

  • Director, CBI

  • Chairman, CBDT,

  • Director General, Narcotics Control Bureau

  • Director General, Revenue Intelligence

  • Director, Financial Intelligence Unit

  • Director, Research and Analysis Wing 

  • Joint Secretary (FT&IR-1), CBDT 

The SIT has been charged with the responsibility and duties of investigation, initiation of proceedings and prosecution in cases of Hasan Ali and other matters involving unaccounted money. SIT shall have jurisdiction in the cases where investigations have already commenced or are pending or awaiting to be initiated or have been completed. SIT will prepare a comprehensive action plan including creation of necessary institutional structure that could enable the country to fight the battle against unaccounted money. The SIT should report to the court the status of work from time to time. 

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