New Delhi, July 29: The high level committee on black money headed by CBDT Chairman today held a meeting to discuss the impact of Supreme Court order on constituting a SIT to look into the initiatives being taken by the government to bring back the illegal funds stashed abroad.
“Special Investigation Team (SIT) and its impact came up for discussions,” a finance ministry official said after the meeting. It was the second meeting of the panel.
Following the July 4 Supreme Court order, the Centre had approached the apex court seeking review and recall of the order for setting up the SIT comprising its retired judges to take over the probe of all black money cases, including that of Pune stud farm owner Hasan Ali Khan.
The official said that the committee also analysed thousands of feedbacks it got from the public on ways to strengthen the laws to unearth the unaccounted wealth.
The finance ministry had constituted the panel to suggest legal and administrative framework to deal with the black money menace.
“Besides, the progress since the first meeting of the committee (held in June) was also discussed,” the official said.
The panel members are reviewing the laws being enforced by their departments and looking for changes, if any, required to curb the generation of black money, its transfer abroad and recovery.
The committee is to submit its report within six months.
The next meeting of the panel will be held under the new CBDT chairman as its current chief Prakash Chandra will retire on July 31.
–Agencies